UBI sells Swiss unit with no impact on earnings
MILAN Aug 19 (Reuters) - Italian bank UBI said it had agreed to sell its Swiss unit Banque de Depots et de Gestion SA (BDG) to Geneva-based Banque Cramer & Cie SA as it strives to streamline its structure and dispose of non-strategic assets.
UBI said the sale of Lausanne-based BDG would have no significant impact on the group's income statement or its capital ratios.
UBI did not disclose a price for the sale of BDG, which has about 1 billion euros ($1.34 bln) in total funding and would be merged into Banque Cramer & Cie, possibly by the end of the year. ($1 = 0.7490 euros) (Reporting by Valentina Za; Editing by David Cowell)
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