Banca Popolare di Lodi, the Italian bank, is to raise a further €3bn ($3.7bn) to fund its takeover bid for domestic rival Banca Antonveneta, and has changed its name in a bid to reflect its ambitions to become a "pillar of Italian banking".

The bank, now called Banca Popolare Italiana, will raise €1.5bn through a capital increase and €1.5bn through a convertible bond.