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Deutsche Bank boosts capital at Spanish unit

Source: Reuters - Fri 15th Apr 2011

Deutsche Bank said on Friday it will boost capital by 223 million euros at its Spanish unit to comply with the Bank of Spain's tough new rules.

"On completion of the capital hike, which will be for 23% more than the funding required, Deutsche Bank's core capital ratio will be 8.35%," the German bank said.

Bank of Spain rules stipulate that listed banks must hold a minimum of 8% core capital.

On Thursday, the central bank approved all the capital raising plans put forward by banks and savings banks, including the Spanish units of Deutsche Bank and Barclays.

The British bank's unit said last week it will undertake two capital hikes for a total of 1.3 billion euros.

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