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Atlante agrees to inject about €1B in Veneto Banca, Banca Popolare di Vicenza

Italian bank rescue fund Atlante will inject about €1 billion into two Italian banks to help boost their capital ratios.

Veneto Banca SpA and Banca Popolare di Vicenza SpA said separately that Quaestio Capital Management SGR SpA, which manages the Italian fund, pledged to make an advance payment of up to €628 million and €310 million, respectively, to the lenders by Jan. 5, 2017, for future capital increases.

The financial support to the two lenders by controlling shareholder Atlante aims at bolstering the capital ratios of the banks "in the light of the impacts that may arise from the complex year-end assessment processes currently underway," the banks said.