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Italy's UBI suspends dividend payments as requested by ECB

UBI Banca Popolare Commercio & Industria logo is seen in Milan
UBI Banca Popolare Commercio & Industria logo is seen in Milan

MILAN (Reuters) - Italy's fifth-largest bank UBI Banca <UBI.MI> said on Tuesday it would not pay out to shareholders 147.6 million euros (130.82 million pounds) in dividends as planned, and would boost its capital instead as requested by supervisors.

The bank reserved the right to call a new shareholder meeting over dividend payments after Oct. 1 , barring any extension past that date of the recommendation on banks' payouts issued last week by the European Central Bank.

(Reporting by Valentina Za, editing by Giulia Segreti)