Key Developments: Banca Popolare dell'Emilia Romagna Sc (EMII.MI)

EMII.MI on Milan Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Banca Popolare dell Emilia Romagna Sc announces Alessandro Vandelli as new CEO
Tuesday, 15 Apr 2014 10:14am EDT 

Banca Popolare dell Emilia Romagna Sc:Says Luigi Odorici has resigned from his position as Chief Executive Officer (CEO) of the company.Appoints Alessandro Vandelli as the new CEO as of April 16.  Full Article

Banca Popolare dell Emilia Romagna Sc does not allocate for distribution of FY 2013 dividends
Saturday, 12 Apr 2014 12:26pm EDT 

Banca Popolare dell Emilia Romagna Sc:Says the Shareholders' Meeting approved the 2013 financial statements and it did not allocate anything to the reserve for charitable donations and payments for the public benefit, nor for the distribution of dividends.  Full Article

Fitch Ratings confirms Banca Popolare dell Emilia Romagna Sc's short-term and long-term ratings
Thursday, 27 Mar 2014 12:40pm EDT 

Banca Popolare dell Emilia Romagna Sc:Says Fitch Ratings confirms Banca popolare dell’Emilia Romagna's short-term and long-term ratings at “BB+” and “B”, respectively, with a negative outlook.  Full Article

Banca Popolare dell Emilia Romagna and Banco di Sardegna start merger process of ABF Leasing into Sardaleasing
Wednesday, 5 Mar 2014 12:46pm EST 

Banca Popolare dell Emilia Romagna Sc:Says Banca popolare dell'Emilia Romagna, parent company of the BPER Group, and Banco di Sardegna, part of the same group, have adopted a resolution to start the merger process of ABF Leasing into Sardaleasing.Says, according to the 2012-2014 BPER Group's Business Plan, the merger would enable the Group to further simplify its structure and maximize the operational and managerial efficiency in leasing sector.Says ABF Leasing is a product company, specialized in property leasing wholly owned by Banca popolare dell'Emilia Romagna.Says Sardaleasing operates in all leasing segments , with a distribution focus in Sardinia Region and is currently 91 pct owned by Banco di Sardegna, 5 pct by Banca popolare dell'Emilia Romagna and 4 pct by other minority shareholders.Says the deal, which is subject to the approval of the Boards of Directors and Extraordinary General Meetings of the two companies involved in the merger, is expected to be closed by the end of the first half of 2014.  Full Article

Banca Popolare dell Emilia Romagna Sc Updates on Process of Group Simplification and Rationalization
Wednesday, 30 Oct 2013 02:25am EDT 

Banca Popolare dell Emilia Romagna Sc announced that the Board of Directors has approved the guidelines of a strategic project to simplify and streamline the organizational and governance structure of the Banking Group: the plan is for the Italian-registered banks to be absorbed by the Parent Company between the end of fiscal year 2014 and the first half of fiscal year 2015. This integrates what was already planned and implemented under the 2012-2014 Business Plan and forms a base on which to establish priorities for the next Plan. Note, in this regard, that the Parent Company has already absorbed Meliorbanca and the three central Italian banks (Banca Popolare di Lanciano e Sulmona, Cassa di Risparmio della Provincia dell’Aquila and Banca Popolare di Aprilia) in November 2012 and May 2013, respectively.  Full Article

Banca Popolare dell Emilia Romagna Sc Places Covered Bond Issue on Institutional Market
Tuesday, 8 Oct 2013 11:43am EDT 

Banca Popolare dell Emilia Romagna Sc announced that it has, on October 8, 2013, launched and successfully placed its inaugural benchmark covered bond issue (Obbligazioni bancarie garantite) for an amount of EUR 750 million with a maturity of five years off its Covered Bond programme. The bond issue of EUR 750 million was subscribed for around half of the size by foreign institutional investors and for the rest by Italian investors. The main subscribers were fund managers with 61%, followed by insurance companies and pension funds with 18% and lastly by banks with 16%. The bond was priced at a level of mid-swap + 215 basis points and with a coupon of 3.375%, payable in arrears on October 22 of each year from 2014. The maturity date has been set on October 22, 2018. Citigroup, Mediobanca, RBS, Societe Generale CIB and UBS acted as Joint Bookrunners.  Full Article

Standard & Poor's Downgrades Banca Popolare dell Emilia Romagna Sc's Long-Term Rating And Affirms Short-Term Rating
Thursday, 29 Aug 2013 03:36pm EDT 

Banca Popolare dell Emilia Romagna Sc announced that on August 29, 2013 Standard & Poor's, the international rating agency, has revised its long- term rating to BB- from BB, while confirming its short-term rating to B and, at the same time, improving the outlook to stable from negative. According to S&P, the reason for the change in rating is mainly a higher than expected deterioration in the Bank's asset quality during the first half 2013. According to the rating agency again, the increase in the stock of doubtful loans raises the risk of the Bank having to make higher loan loss provisions than expected, which could have a negative impact on its capitalisation.  Full Article

Fitch Downgrades Banca Popolare dell Emilia Romagna Sc's Long and Short-Term Ratings
Friday, 26 Jul 2013 01:24pm EDT 

Banca Popolare dell Emilia Romagna Sc announced that the rating agency Fitch within the various rating actions taken on Italian mid-sized banks, has downgraded the Bank's long-term rating to BB+ from BBB, the short-term rating to B from F3 and the Viability rating to bb+ from bbb. The Support rating and the Support rating floor has been affirmed respectively to 3 and BB+. The outlook remains negative.  Full Article

Standard & Poor's Revises Banca Popolare dell Emilia Romagna Sc's Long-Term Rating And Affirms Short-Term Rating
Thursday, 25 Jul 2013 02:38am EDT 

Banca Popolare dell Emilia Romagna Sc announced that on July 24, 2013, the rating agency Standard & Poor's has revised the Bank's long-term rating to "BB" from "BB+" removing it from CreditWatch, where it was placed on July 12, 2013, and affirmed short-term rating at "B". The outlook is "negative".  Full Article

Banca Popolare dell Emilia Romagna Sc's Long-Term Rating Under Review By Standard & Poor's; Short-Term Rating Affirmed
Monday, 15 Jul 2013 01:54am EDT 

Banca popolare dell Emilia Romagna Sc informed that on July 12, 2013, the rating agency Standard & Poor's has placed BPER's long-term counterparty credit rating on CreditWatch with negative implications, as a consequence of the one-notch lowering of the Italian long-term sovereign credit rating to "BBB". Standard and Poor's placed on CreditWatch with negative implications the "BB+" long-term rating on BPER. At the same time Standard and Poor's affirmed short-term rating at "B".  Full Article

MOVES- Barclays, Lloyds Banking Group, Deutsche Bank, BCS Financial

April 15 - The following financial services industry appointments were announced on Tuesday. To inform us of other job changes, email to moves@thomsonreuters.com.

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