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.
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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.
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 .
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.
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
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.
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
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.
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.