Key Developments: Banca Piccolo Credito Valtellinese Sc (PCVI.MI)

PCVI.MI on Milan Stock Exchange

0.72EUR
19 Dec 2014
Price Change (% chg)

€-0.02 (-3.03%)
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€0.74
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Latest Key Developments (Source: Significant Developments)

Digital Magics SpA signs agreement with Banca Piccolo Credito Valtellinese Sc
Thursday, 7 Aug 2014 03:38am EDT 

Digital Magics SpA:Says it signed an agreement with Banca Piccolo Credito Valtellinese Sc for a 2 mln euro financing, assisted by Fondo di Garanzia for SMEs.Says the financing targets the digital startups and promotes their development in the territories whee the Group's banks operate.The agreement entails Digital Magics providing the Creval Group with its digital know how and incubator services, while the Creval Group will provide the financial resources to support to the startup initiatives.  Full Article

Banca Piccolo Credito Valtellinese Sc completes sale of Creset to Fire Group; signs commercial agreements with Fire for development of strategic partnership in credit recovery and tax collection
Thursday, 31 Jul 2014 10:55am EDT 

Banca Piccolo Credito Valtellinese Sc:Completes the sale by Credito Valtellinese to Fire Group SpA of 2,640 ordinary shares of Creset Servizi Territoriali SpA, representing 60 pct of the share capital, for a provisional consideration equal to about 3.6 million euros.Says the commercial agreements envisaged in the Framework Agreement were also signed.Says the purpose of these agreements is to create an industrial partnership between Creval and Fire, in order to develop the activities relating to local taxation and credit recovery on behalf of Creval customers.Says the activity shall be developed on the Creset platform using the specific experience gained by Fire.  Full Article

Banca Piccolo Credito Valtellinese Sc finalize agreement for development of strategic alliance in leasing business
Thursday, 31 Jul 2014 02:49am EDT 

Banca Piccolo Credito Valtellinese Sc:Implements with Alba Leasing SpA the framework agreement, signed on March 24, for the development of a strategic alliance in the leasing business.Says the parties signed, with effect from Aug. 1, the deed of transfer of Creval’s leasing business branch as subscription and full payment of the capital increase, with exclusion of the option right, equal to 32,953,058.13 euros reserved to Creval.Says as result of the transfer, the capital of Alba Leasing will be held by Banca Popolare dell’Emilia Romagna (33.50 pct), Banco Popolare through Banca Italease (30.15 pct), Banca Popolare di Sondrio (19.26 pct), Banca Popolare di Milano (9.04 pct) and Credito Valtellinese (8.05 pct).  Full Article

Banca Piccolo Credito Valtellinese Sc says stipulated deed of merger of Mediocreval into company
Tuesday, 15 Jul 2014 09:48am EDT 

Banca Piccolo Credito Valtellinese Sc:Says the deed of merger by incorporation of Mediocreval SpA in Credito Valtellinese S.c. was signed on July 15.The merger will be effective as of Aug. 1, as established in the deed of merger, following the filing of the deed of merger with the competent Companies Registers.  Full Article

Fitch lowers Banca Piccolo Credito Valtellinese Sc's long-term IDR; outlook to stable from negative
Friday, 11 Jul 2014 01:55am EDT 

Banca Piccolo Credito Valtellinese Sc:Fitch Ratings has reviewed Creval Long-term IDR to BB, from BB+, outlook revised to Stable from Negative.The short-term IDR was affirmed at B, as well as the Support Rating, affirmed at 3, and the Support Rating Floor, affirmed at BB.The Viability Rating was also downgraded to bb from bb+.The rating action follows a periodic review of several mid-sized banking groups.  Full Article

Banca Piccolo Credito Valtellinese Sc announces completion of 399,976,478.72 euros capital increase subscribed
Friday, 27 Jun 2014 12:27pm EDT 

Banca Piccolo Credito Valtellinese Sc:Announces that the offer to Creval shareholders of 624,963,248 newly issued ordinary shares was concluded.During the Offer period, from May 26 to June 20, 478,908,730 rights were exercised for the subscription of 622,581,349 new shares, accounting for 99.62 pct of the overall new shares offered, for an overall amount of 398,452,063.36 euros.Says Creval then offered the 1,832,230 rights that were not exercised during the offer period on the Italian stock exchange.Says these rights were sold in full on June 24, during the first trading session of the Stock Exchange Offer.Subsequently, 2,381,899 new shares deriving from the exercise of the rights were subscribed for an overall amount of 1,524,415.36 euros.The offer was therefore concluded with the full subscription of 624,963,248 new shares, for an overall amount of 399,976,478.72 euros with no need for the underwriting syndicate to intervene.  Full Article

Banca Piccolo Credito Valtellinese Sc approves merger by incorporation of Mediocreval into company
Monday, 23 Jun 2014 09:58am EDT 

Banca Piccolo Credito Valtellinese Sc:Says the Board of Directors of Credito Valtellinese and Mediocreval SpA convened on June 23, approved the merger by incorporation into Credito Valtellinese of Mediocreval, wholly controlled by Credito Valtellinese.The merger was authorized by the Bank of Italy on May 20.Says the signing of the merger deed and the date of the related legal effects, expected on July 31, will be disclosed to market at a later date.  Full Article

Banca Piccolo Credito Valtellinese Sc concludes share capital increase
Friday, 20 Jun 2014 01:24pm EDT 

Banca Piccolo Credito Valtellinese Sc:Announces that on June 20 the offer of up to a maximum of 624,963,248 newly issued Creval shares was concluded.During the offer period, from May 26 to June 20, 478,908,730 pre-emptive rights were exercised for the subscription of 622,581,349 new shares, corresponding to 99.62 pct of the total number of new shares offered, for a total amount of 398,452,063.36 euros.At the end of the offer period, 1,832,230 pre-emptive rights, which give right to subscribe for 2,381,899 new shares, remained unexercised, for an total amount of 1,524,415.36 euros.Pre-emptive rights not exercised during the offer period will be offered on the Italian stock exchange during the trading sessions of June 24, 25, 26, 27 and 30, except in case of early closing.  Full Article

Banca Piccolo Credito Valtellinese Sc updates Euro Medium Term Note Programme
Thursday, 12 Jun 2014 09:08am EDT 

Banca Piccolo Credito Valtellinese Sc:Says it signed in London the annual updating of the Euro Medium Term Note Programme, allowing Credito Valtellinese Banking Group to issue financial instruments, intended for institutional investors, up to a maximum amount of 5 billion euros.Natixis is acting as arranger of the EMTN Programme.Dealers, besides NATIXIS and Credito Valtellinese, are Banca Akros, Banca IMI, Barclays, BNP Paribas, Credit Agricole Corporate and Investment Bank, HSBC, J.P. Morgan, Mediobanca – Banca di Credito Finanziario, The Royal Bank of Scotland, UBS Investment Bank and UniCredit Bank.  Full Article

DBRS confirms Banca Piccolo Credito Valtellinese Sc at BBB (low)
Friday, 23 May 2014 01:00pm EDT 

Banca Piccolo Credito Valtellinese Sc:DBRS Ratings confirmed Credito Valtellinese's ratings at BBB (low).Says the ratings include a Senior Long-Term Debt and Deposit Rating of BBB (low) and a Short-Term Debt and Deposit Rating of R-2 (low).Says the trend on all ratings remains Negative.  Full Article

Fitch downgrades Italy's Credito Valtellinese

MILAN, July 10 - Rating agency Fitch said on Thursday it had cut its rating for Italian bank Credito Valtellinese to 'BB' from 'BB+' with a stable outlook.

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