Financial and Banking News

Regional Banking

UBAE Italy Increases Capital By Two Thirds

Rome-based UBAE Arab Italian Bank, which is 70% owned by Arab financialinstitutions, has increased its capital by IL42bn ($27mn) to IL102bn ($67mn)through a bonus share issue and cash call. The share issue, which is funded fromreserves, covers IL28bn of the increase and the cash call the remainder. Thebank says that the new money will assist the bank to conform to EU banking...