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Unione di Banche Italiane ScpA Sells Banque de Depots et de Gestion SA to Banque Cramer & Cie SA

Monday, 19 Aug 2013 12:32pm EDT 

Unione di Banche Italiane ScpA announced that as part of rationalisation processes also involving the disposal of non-strategic assets, contracts have been signed for the sale of 100% of the share capital of Banque de Depots et de Gestion SA (hereinafter BDG), a Swiss bank, based in Lausanne, with a branch in Lugano, to Banque Cramer & Cie SA (Norinvest Group). Once final authorisation is received from FINMA and the IT migration onto target systems is completed, it is planned to merge BDG into Banque Cramer & Cie SA, possibly by the end of fiscal year 2013. The merger will allow synergies to be developed to the benefit of all the customers of the two banks. Disposal of the subsidiary BDG will have no significant impacts on the UBI Banca Group’s consolidated income statement and capital ratios. 

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