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Unione di Banche Italiane SpA (UBI.MI)

UBI.MI on Milan Stock Exchange

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Latest Key Developments (Source: Significant Developments)

UBI supervisory board approves single-board system
Tuesday, 12 Dec 2017 

Dec 12 (Reuters) - UBI Banca says: :GUIDELINES APPROVED TODAY BY SUPERVISORY BOARD ENVISAGE ADOPTION OF A SINGLE TIER GOVERNANCE SYSTEM.BANK TO HAVE SINGLE BOARD OF DIRECTORS COMPOSED OF 15 MEMBERS.WITHIN BOARD THERE WILL BE MANAGEMENT CONTROL COMMITTEE OF FIVE MEMBERS.TWO THIRDS OF BOARD MEMBERS WILL BE INDEPENDENT.  Full Article

Italy's UBI says ECB requires regular updates on bad loan from all banks
Tuesday, 12 Dec 2017 

Dec 12 (Reuters) - Italy's Ubi Banca says::REGULAR UPDATES ON BAD LOAN PLANS IS REQUIRED BY ECB FROM ALL BANKS, NOT JUST UBI.CONFIRMS STRATEGY THAT GIVES PRIORITY TO INTERNAL MANAGEMENT OF CREDIT RECOVERY WITH THE DISPOSAL OF BAD LOANS AS A RESIDUAL OPTION.ITALY'S UBI BANCA SAYS NO FURTHER DEVELOPMENTS ON BAD LOAN FRONT HAVE OCCURRED SINCE LAST PLAN PRESENTED TO MARKET, WHICH BEAT NPL REDUCTION TARGETS FOR 2017.  Full Article

DBRS cuts Ubi Banca rating to BBB from BBB (High)
Monday, 27 Nov 2017 

Nov 27 (Reuters) - Unione Di Banche Italiane Spa ::DBRS CUTS RATING ON ITALY'S UBI BANCA TO BBB FROM BBB (HIGH), TREND NOW STABLE.DOWNGRADE DRIVEN BY BANK'S HIGH STOCK OF NON-PERFORMING EXPOSURES AND CHALLENGES TO IMPROVE PROFITABILITY.  Full Article

Edoardo Mercadante held 5 pct of UBI Banca on Nov. 13 - filing
Friday, 17 Nov 2017 

Nov 17 (Reuters) - Unione Di Banche Italiane: :Edoardo Mercadante held 5.091 percent of UBI Banca as of Nov. 13 - a regulatory filing showed.  Full Article

UBI CEO sees no significant impact from ECB's new bad loan rules
Friday, 10 Nov 2017 

Nov 10 (Reuters) - UBI Banca CEO Victor Massiah tells analyst call::Does not anticipate any significant impact from ECB's NPL addendum.  Full Article

UBI Banca Q3 net profit 37.3 mln euros vs 43.7 mln in Q2
Friday, 10 Nov 2017 

Nov 10 (Reuters) - Unione Di Banche Italiane says::Q3 net profit excluding non-recurring items and including three recently acquired banks at 37.3 million euros vs 43.7 mln euros in Q2.9-month net profit excluding non-recurring items and including three recently acquired banks 167.3 million euros.fully-loaded CET1 ratio 11.54 percent end-September.Q3 net interest income 402.5 million euros.loan writedowns in Q3 at 135.1 million euros.net impaired loans 8.4 billion euros at end-September.non-performing loan (NPL) coverage including write-offs at 48.6 percent.gross NPL stock end September 14.033 billion euros.  Full Article

Ubi Banca will take part in sale process of four rescued banks - CEO
Friday, 2 Sep 2016 

UBI Banca CEO Victor Massiah says: the lender will take part in the sale process of Banca Marche, Banca Etruria, CariChieti and CariFerrara.A fresh attempt will be made to sell the four small banks Italy rescued from bankruptcy in November, after three bids submitted last month were rejected. [nL8N1B32OY] Further company coverage: [UBI.MI] (Reporting by Milan newsroom).  Full Article

UBI CEO: any M&A deal must create value for bank's own shareholders
Friday, 5 Aug 2016 

Unione di Banche Italiane CEO Victor Massiah: says reiterates ready to consider M&A opportunities but any deal must add value for its shareholders . says business plan's CET 1 target of 12.8 pct in 2020 is solid and feasible Further company coverage: [UBI.MI] (Reporting by Milan newsroom).  Full Article

UBI CEO says CET 1 ratio to rise by 70 bps between now and end-2017
Friday, 5 Aug 2016 

UBI Banca CEO Victor Massiah says: expects CET 1 ratio to rise by 70 basis points thanks to impact of minorities buyback this year and deferred tax assets in 2017 Further company coverage: [UBI.MI] (Reporting by Milan newsroom).  Full Article

Monte Paschi not on agenda of UBI management board meeting - spokesman
Monday, 25 Jul 2016 

UBI Banca spokesman says: Banca Monte dei Paschi di Siena is not on the agenda of an UBI Banca management board meeting scheduled for Tuesday Further company coverage: [UBI.MI] [BMPS.MI] (Reporting by Milan newsroom).  Full Article