"I can confirm that I would resign if someone wanted to impose me a capital increase. For a simple reason: today, our institution doesn't need it," Pier Francesco Saviotti said in an interview with Italian daily La Repubblica.

He said a "possible" objective was to raise the Core Tier 1 ratio to 7.7 percent at end-2013 from 7 percent at end-2012, which could be reached without converting a 1 billion euro convertible bond.

The bank's business plan, announced last June, will help save 200 million euros and boost the Core Tier 1 ratio by 20 basis points, he said.