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Unione di Banche Italiane ScpA Completes Merger of Centrobanca into the Company

Monday, 6 May 2013 11:57am EDT 

Unione di Banche Italiane ScpA (UBI Banca) announced that the merger of Centrobanca into UBI Banca was concluded on May 6, 2013, with effect from May 6, 2013 with regard to third parties and from January 1, 2013 for accounting and tax purposes. The merger of Centrobanca into UBI Banca forms part of the initiatives designed to simplify the structure of the Group and to reduce overall operating costs as a consequence. The lines of business previously managed by Centrobanca will be carried out by units at the Parent Company which will also have the availability of the brand name. Finally, the migration of the Centrobanca IT system onto the UBI Banca platform was completed successfully onMay 4, May 5, 2013. 

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24 Nov 2014