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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)

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

UBI Banca aims to execute cash call by end-June
Thursday, 19 Jan 2017 12:18pm EST 

UBI Banca CEO Victor Massiah says: Aims to execute cash call needed to buy three rescued banks by end-June Further company coverage: [UBI.MI] (Reporting by Milan newsroom).  Full Article

Shares in UBI up after it signs contract to buy 3 rescued banks
Thursday, 19 Jan 2017 03:09am EST 

Italy's UBI Banca: Shares up 2.5 percent after it signs contract to buy three rescued banks Banca Marche, Banca Etruria and CariChieti .UBI agreed last week to buy the three small lenders for 1 euro and carry out a 400 million euro capital increase on which it expects a 25 percent return. [nL5N1F22FU].  Full Article

Bank of Italy approves sale of three rescued banks to UBI
Wednesday, 18 Jan 2017 12:00pm EST 

Bank of Italy says: Approves sale of three small banks rescued from bankruptcy in November 2015 to UBI . Resolution fund now focusing on completing sale of fourth rescued bank Carife to Banca Popolare dell'Emilia Romagna Further company coverage: [UBI.MI][EMII.MI] (Reporting by Milan newsroom).  Full Article

Ubi committed to keeping 2016 dividend unchanged-CEO
Thursday, 12 Jan 2017 09:33am EST 

UBI Banca CEO Victor Massiah tells analyst call: Committed to paying same dividend over 2016 results as in the previous year Further company coverage: [UBI.MI] (Reporting by Milan Newsroom).  Full Article

UBI Banca sees 1.2 bln euro net profit in 2020
Thursday, 12 Jan 2017 09:30am EST 

UBI Banca says: Forecasts 2020 net profit of 1.2 billion euros following acquisition of three rescued banks, up from 900 million euros under current business plan - slide . Sees non-performing exposure coverage at 47.5 percent in 2020 after acquisition, up from 46.3 percent under current business plan - slide Further company coverage: [UBI.MI] (Reporting by Milan Newsroom).  Full Article

Italy's UBI shares up over 10 pct after deal to buy 3 lenders
Thursday, 12 Jan 2017 04:06am EST 

UBI Banca: shares up more than 10 percent . earlier on Thursday the lender announced a deal to buy three small Italian lenders. [nI6N1EI01C] Further company coverage: [UBI.MI] (Reporting by Milan newsroom).  Full Article

Monte dei Paschi shares volatile in early trade
Friday, 18 Nov 2016 03:00am EST 

Italian banks: Banca Monte dei Paschi di Siena shares rise 2.8 percent in early trade; later the stock pares its gains and up 0.4 percent by 0806 GMT . UniCredit also higher, up 0.4 percent . Ubi Banca shares trade down 1.6 percent after Italian prosecutors said they had completed an investigation into Italy's fifth-biggest bank, its chief executive and 38 other people over alleged obstruction of regulators.[nL8N1DI5V7] . Italy's banking index <.FTIT8300> is down 0.4 percent Further company coverage: [BMPS.MI] (Reporting by Milan newsroom).  Full Article

More From Around the Web

UBI CEO says Italian banking M&A not over, lender is an aggregator-Euromoney

MILAN, March 23 UBI Banca's chief executive, Victor Massiah, says in interview published on the Euromoney website (http://bit.ly/2mYAFXI):