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Andrea Mandala

UBI shareholder group rejects Intesa's 'hostile' offer

20 Feb 2020

BERGAMO, Italy A group of UBI Banca investors holding 18% of the Italian bank's share capital on Monday dismissed Intesa Sanpaolo's takeover offer as unacceptable, casting doubt on a bid to create an Italian banking champion.

UPDATE 2-Italy's UBI evaluating Intesa bid, too early for definite response

19 Feb 2020

* Breakingview on banking M+A (Recasts, adds quotes, detail, background)

Intesa's UBI bid fires starting gun on European banking M&A

18 Feb 2020

MILAN Intesa Sanpaolo's surprise 4.9 billion euro (4.1 billion pounds) takeover bid for UBI Banca answers supervisor calls for mergers to bolster Europe's banking sector and its global clout, Italy's top retail bank said.

Intesa kicks off Italian bank consolidation with $5.3 billion bid for UBI

18 Feb 2020

MILAN Intesa Sanpaolo kicked off on Monday long-awaited consolidation among Italian banks with a surprise 4.86 billion euro (4.05 billion pounds) takeover bid for smaller rival UBI Banca .

UBI aims to double profit by 2022 by cutting costs, loan losses

17 Feb 2020

MILAN UBI Banca aims to nearly double its net profit in the next three years by cutting costs and reducing losses from problem loans, the bank said on Monday.

UPDATE 1-Italian insurer UnipolSai ups dividend and signals more to come

14 Feb 2020

MILAN, Feb 14 UnipolSai on Friday raised its dividend for the year by 10% and signalled more increases could be in the pipeline after the insurer's full-year earnings beat expectations thanks to lower taxes and a stronger non-life performance.

UPDATE 1-UBI to offload more bad loans after results top forecasts

10 Feb 2020

MILAN, Feb 10 UBI Banca said on Monday it would step up efforts to reduce its bad loans with an 800 million euro ($873 million) sale this year after reporting fourth-quarter earnings well above market expectations.

UPDATE 1-Italy says it opposes classing govt bonds as risky assets

08 Feb 2020

BRESCIA, Italy, Feb 8 Italy will always oppose stripping government bonds of their risk-free status as a bank asset, unless the euro zone moves to create a new common "safe asset" for lenders to invest in, Economy Minister Roberto Gualtieri said.

Bank of Italy says coronavirus may have significant impact on growth

08 Feb 2020

BRESCIA, Italy Measures to counter the spread of the new coronavirus that first emerged in China could have a significant impact on the Italian economy, adding to the marked negative risks to growth projections, the Bank of Italy said on Saturday.

Bank of Italy says crisis tools for small banks needed

08 Feb 2020

MILAN The Bank of Italy on Saturday called for European rules to handle smaller banks' crises and urged them to consider mergers to cut excessively high costs.

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