UniCredit SpA (CRDI.MI) Key Developments | Reuters.com
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UniCredit SpA (CRDI.MI)

CRDI.MI on Milan Stock Exchange

24 Jun 2016
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Latest Key Developments (Source: Significant Developments)

UniCredit CEO: working to keep capital on track
Tuesday, 10 May 2016 09:26am EDT 

UniCredit Spa CEO Federico Ghizzoni tells an analyst call: bank is working to keep capital on track, we have multiple options that we can use to keep it growing, "we are not concerned" Further company coverage: [CRDI.MI] (Reporting by Milan newsroom).  Full Article

UniCredit says Atlante capital hit could rise to just below 20 bps
Tuesday, 10 May 2016 09:01am EDT 

Unicredit CEO Federico Ghizzoni tells a conference call: Bank has pledged to put around 840 million euros into the 4.25-billion euro Atlante bailout fund for the time being . Atlante contribution weighed on core capital for about 3 basis points in Q1 . Should Atlante fund increase its firepower to 6 billion euros, UniCredit's contribution would rise to around 1 billion euros and the maximum capital hit for the bank would be just below 20 basis points Further company coverage: [CRDI.MI] (Reporting by Milan newsroom).  Full Article

Italian banks' gross bad loans rose to 197 bln euros in March-BOI
Tuesday, 10 May 2016 05:10am EDT 

Bank of Italy data: Gross bad loans - or 'sofferenze' meaning loans unlikely to ever be repaid - at Italian banks rose to 196.96 bln euros in March from 196.1 bln euros in February . Bank loans to non-financial businesses down 0.3 percent in March after 0.3 percent rise in February (Reporting by Milan newsroom).  Full Article

Poland's Pekao sees 2016 net close to 2015 level -CEO
Tuesday, 10 May 2016 04:47am EDT 

Bank Polska Kasa Opieki SA (Bank Pekao) : The chief executive of Poland's No.2 lender Pekao, Luigi Lovaglio, told reporters on Tuesday the bank targets a net profit in 2016 around the 2015 level of 2.29 billion zlotys ($590 million). . CEO added the bank plans to continue selling non performing loan (NPL) portfolios, but the second quarter will not see such big portfolio sales as in the first quarter. . A sale of a NPL portfolio added 120 million zlotys to the bank's net profit in the first three months of the year. . Lovaglio said that Pekao would consider buying a local SKOK credit union if any interesting opportunity arises. Further company coverage: [PEO.WA] ($1 = 3.8837 zlotys) (Reporting by Marcin Goclowski; Writing by Marcin Goettig) ((marcin.goettig@thomsonreuters.com;)).  Full Article

UniCredit SpA's Bank Austria plans streamlined structure -Standard - Reuters News
Sunday, 20 Mar 2016 10:53pm EDT 

UniCredit SpA:Consultancy McKinsey has prepared plans to streamline the structure of UniCredit unit Bank Austria that could lead to a reduction in the number of people on its management board, Austrian newspaper Der Standard reports - RTRS.THe bank is offering employees who are close to retirement age incentives to leave the company early, Der Standard reports, adding that UniCredit wants Bank Austria to cut roughly 1,500 jobs by the end of next year.A decision should be reached by the end of July on how UniCredit's central and eastern Europe business, currently run by Bank Austria, should be moved to Milan, Der Standard says, adding that the two options are a sale and a spin-off.  Full Article

UniCredit SpA - Italy court says no proof of wrongdoing in UniCredit mafia probe - Reuters
Saturday, 31 Oct 2015 09:23am EDT 

UniCredit SpA:An Italian court said on Saturday there was no proof to back up allegations that three executives at Italian lender UniCredit had helped a businessman who prosecutors claimed had links to the Sicilian mafia, according to a court document - RTRS.Fabrizio Palenzona, Unicredit deputy chairman, Chief Risk Officer Massimiliano Fossati and Alessandro Cataldo, head of corporate banking in Italy, had been accused by anti-mafia prosecutors of helping to arrange debt restructuring for entrepreneur Andrea Bulgarella - RTRS.Prosecutors claimed Bulgarella had links to Matteo Messina Denaro, one of Italy's most wanted men. Bulgarella has denied any wrongdoing - RTRS.But in a ruling on Saturday the Florence court said no restructuring plan of the debt of the Bulgarella group had ever been approved by UniCredit and that there was no proof to show Bulgarella had relations with the Mafia - RTRS.According to a document from the court, it annulled the search warrant and said there was no evidence to support allegations of fraud or helping the mafia. It also called on material seized under the warrant to be returned, according to the court document. - RTRS."The court could do nothing else but recognise that the search warrant, annulled today, was based literally on nothing," Palenzona's lawyer Massimo Dinoia said - RTRS.The bank said there was nothing to suggest Palenzona and Fossati were unfit to retain their positions - RTRS.  Full Article

UniCredit SpA's new business plan envisages 12,000 layoffs - source - Reuters
Friday, 30 Oct 2015 09:24am EDT 

UniCredit SpA:UniCredit's new business plan envisages 12,000 job cuts worldwide, a source close to the matter said on Friday, indicating a larger reduction compared with 10,000 layoffs that had been expected - RTRS.UniCredit will reduce its Italian workforce by 3,500 jobs, including 2,700 cuts already planned but not fully implemented, according to two other sources - RTRS.Those sources added that along with Italy, cuts would be significant in Austria and Germany - RTRS.  Full Article

UniCredit SpA head says Palenzona case solved as far as bank concerned - Reuters
Wednesday, 28 Oct 2015 12:39am EDT 

UniCredit SpA:A controversy stemming from an anti-mafia investigation into UniCredit's Deputy Chairman Fabrizio Palenzona has been "more than solved" as far as the Italian bank is concerned, the bank's chairman said on Wednesday.Anti-mafia prosecutors in Florence have placed Palenzona and two other top officials at the bank under investigation over allegations of doing business with an entrepreneur linked to the Sicilian mafia.A lawyer representing Palenzona has denied the allegations. The bank has said that an internal preliminary audit had shown no wrongdoing by its officials - RTRS."The case of Palenzona is more than solved as far as the bank is concerned," UniCredit Chairman Giuseppe Vita told reporters on the sidelines of a banking conference in Rome. "Let's see what the magistrates say." - RTRS.  Full Article

UniCredit SpA set to replace two managers targeted by investigation - sources - Reuters
Monday, 26 Oct 2015 12:02pm EDT 

UniCredit SpA:UniCredit is trying to draw a line under an investigation into whether three of its top executives helped an entrepreneur with alleged Mafia links by quickly replacing two of the bankers, two people familiar with the matter said - RTRS.Prosecutors in Florence have placed three UniCredit executives under criminal investigation for allegedly helping arrange financing for a man whom investigators say has links to Matteo Messina Denaro, the fugitive new leader of the Sicilian Cosa Nostra and one of Italy's most wanted men - RTRS.Details of the investigation were outlined in a search warrant issued by prosecutors on Sept. 30 and seen by Reuters - RTRS.A source close to the bank said on Monday that the two lower-ranking managers - Chief Risk Officer Massimiliano Fossati and Alessandro Cataldo, head of corporate banking in Italy - were likely to be replaced this week - RTRS.The source said UniCredit's Chief Executive Federico Ghizzoni wanted to act quickly as headlines about the high-profile investigation were dominating headlines in the Italian press and risked damaging the bank's reputation - RTRS.A second source confirmed the two may be replaced soon, saying Ghizzoni wanted to act well before the bank releases third-quarter results and a new business plan on Nov. 11 - RTRS.  Full Article

Eurocastle Investment cleared to buy UniCredit credit management bank
Wednesday, 21 Oct 2015 03:42am EDT 

Eurocastle Investments Ltd:Says receives formal regulatory clearance to acquire UniCredit credit management bank from UniCredit SpA.Acquisition includes portfolio of non-performing loans with a GBV of about 2.4 billion euros and NPL servicing business.Eurocastle to acquire 50 percent share of deal for equity investment of about 250 mln euros, subject to customary closing adjustments.  Full Article

Shares in Italy's biggest banks dive after Brexit vote

MILAN Shares in Italy's two biggest banks, UniCredit and Intesa SanPaolo , tumbled more than 20 percent at the open on Friday after Britain voted to leave the European Union.