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Unione di Banche Italiane SpA (UBI.MI)

UBI.MI on Milan Stock Exchange

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Latest Key Developments (Source: Significant Developments)

UBI committed to paying a dividend over 2017 results - CEO
Thursday, 11 May 2017 10:15am EDT 

May 11 (Reuters) - UBI Banca CEO Victor Massiah tells analyst call::Committed to paying a dividend over 2017 results ."Would hate to do less (than in previous year), will try to do more".  Full Article

UBI aims to launch 400 mln euro share sale as soon as possible-CEO
Thursday, 11 May 2017 07:07am EDT 

May 11 (Reuters) - UBI Banca CEO Victor Massiah tells media call::aims to launch 400 million euro share issue as soon as possible, depending on necessary authorisations and market conditions.overall writedown of UBI's stake in banking industry bailout fund Atlante has now reached 56 percent.  Full Article

UBI Banca shares up 1.3 pct after results, plan update
Thursday, 11 May 2017 03:32am EDT 

May 11 (Reuters) - Unione Di Banche Italiane::shares in the lender rose 1.3 percent after results, plan update.the bank's first-quarter consolidated net profit rose 59.4 percent to 67 million euros nFWN1ID00Q.the lender also said after buying the three good banks, it expects a 2020 net profit of around 1.12 billion euros and a CET 1 ratio higher than 13 percent, including the 400 million euros from UBI's capital increase.  Full Article

UBI Q1 net profit jumps 59 pct to 67 mln euros
Thursday, 11 May 2017 01:40am EDT 

May 11 (Reuters) - Unione Di Banche Italiane says::Q1 consolidated net profit at 67 million euros, up 59.4 pct.Q1 net operating income at 276.1 million euros, up 12.6 pct y/y.losses on loans at 134.8 million euros, down 13.2 percent y/y and down 29.7 percent q/q.gross problem loans 12.4 billion euros at end-March from 12.52 billion euros at end-December.fully-loaded CET 1 ratio 11.29 percent at end-March from 11.22 percent at end-December.  Full Article

UBI confirms 2020 profit, capital ratio forecast
Thursday, 11 May 2017 01:39am EDT 

May 11 (Reuters) - Unione Di Banche Italiane says: :an extremely rapid merger plan for three bridge banks is planned, with first migration by end of October.business plan projections for combined entity confirm net profit of around 1.12 billion euros in 2020.sees ROTE of around 12 percent and CET 1 ratio higher than 13 percent (inclusive of 400 million million euros from UBI share capital increase) in 2020.  Full Article

Italy's Ubi Banca says has finalised acquisition of three small banks
Wednesday, 10 May 2017 03:06pm EDT 

May 10 (Reuters) - Italy's UBI Banca says::has finalised acquisition of three small banks, Banca Marche, Banca Etruria and CariChieti.purchased from Italian Resolution fund .acquisition concluded after receiving required authorisation from European Central Bank, European Commission and Bank of Italy. .deal finalised after seller recapitalised the banks for a total of 713 million euros. The acquired banks and their units disposed of non-performing loans totalling 2.2 billion euros gross, and UBI approved increase in share capital of UBI Banca of up to 400 million euros.Osvaldo Ranica appointed Chairman of the three banks.  Full Article

UBI shareholders approve 400-million euros cash call
Friday, 7 Apr 2017 01:29pm EDT 

Unione Di Banche Italiane Spa : Shareholders approve capital increase for up to 400 million euros Further company coverage: [UBI.MI] (Reporting by Milan newsroom).  Full Article

Fitch ratings downgrades UBI Banca to 'BBB-'
Monday, 20 Feb 2017 11:54am EST 

Unione Di Banche Italiane: Fitch ratings agency says it has downgraded UBI Banca's rating to 'BBB-' from 'BBB', outlook negative . Fitch believes that even if the bank achieves its targeted reduction of non-performing loans (NPLs), capitalisation will remain burdened by a high level of unreserved NPLs . The ratings agency adds the high level of unreserved impaired loans exposes the bank to changes in the valuation of the collateral for these loans, and the bank is therefore highly vulnerable to a further deterioration of the Italian operating environment Further company coverage: [UBI.MI] (Reporting by Milan newsroom).  Full Article

Italy's UBI Banca posts 2016 net loss of 830.2 mln euros
Friday, 10 Feb 2017 02:17am EST 

Italy's UBI Banca says: 2016 net loss 830.2 million euros . Q4 net loss 75.6 million euros . fully-loaded CET 1 ratio at 11.22 percent end-2016 versus 11.28 percent end-September . makes net writedown on Atlante fund investment of 52.9 million euros . to pay 2016 cash dividend of 0.11 euros per share . sees "strong improvement" in 2017 results versus 2016 .net impairment losses on loans in 2016 were 1.57 billion euros versus 802.6 million euros in 2015.  Full Article

Italy's Atlante II to buy 2.2 bln euros of soured loans from rescued banks
Friday, 27 Jan 2017 06:30am EST 

Italian fund Atlante II says: Signs agreement to buy 2.2 billion euros ($2.35 billion) of deteriorated loans from three rescued banks . It will buy the "Mezzanine" tranche and part of the "Junior" tranche of bonds, wrapping the soured loans that will be issued by a securitisation vehicle . It will invest up to 515 million euros in the deal, excluding funding worth at least 200 million euros . The deal aims to obtain an "interesting return" for the fund and to allow the sale of the three banks to UBI Banca Further company coverage: [UBI.MI] ($1 = 0.9352 euros) (Reporting by Milan newsroom).  Full Article

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