UniCredit SpA

The appointment of former Economy Minister Pier Carlo Padoan as chairman designate of UniCredit would make it inappropriate for the Italian bank to buy state-owned Monte dei Paschi (MPS), lawmakers from Italy's co-ruling 5-Star Movement said.

A sale of Banca Monte dei Paschi to UniCredit would be inappropriate after UniCredit announced it would appoint former Economy Minister Pier Carlo Padoan as chairman, lawmakers from Italy's ruling 5-Star Movement said.

Italian bank UniCredit <CRDI.MI> on Tuesday named economist Pier Carlo Padoan as director and said it would appoint the former Treasury chief as chairman when it renews the board next spring.

UniCredit <CRDI.MI> CEO Jean Pierre Mustier reiterated on Thursday that the Italian bank would stick to its strategy of using excess capital to boost shareholder returns while staying out of mooted consolidation in the sector.

UniCredit <CRDI.MI> said on Tuesday it had appointed Mirko Bianchi, currently co-chief financial officer, to lead the group's wealth management and private banking business, in the latest management reshuffle at the Italian bank.

Aviva <AV.L> is weighing a piecemeal sale of its Italian business which consists of two joint venture agreements focused on life insurance as well as general insurance policies handled by a network of agents, sources familiar with the matter said.

UniCredit <CRDI.MI> is looking to sell its German leasing operations and a local real estate investment unit, two sources familiar with the matter said on Tuesday, marking another move by the Italian bank to shed assets.

The management of Italy's Banca Monte dei Paschi di Siena is not involved in any talks on if and when the Treasury may sell its stake in the lender, the bank's Chief Executive Guido Bastianini said on Tuesday.

Italy's top bank UniCredit set a goal to cut its exposure to coal to zero by 2028 in a recent update of its policy for the sector and related activities, a document on the bank's website showed.

* Confirms 2021 adj profit goal, sees H2 in line with H1 (Updates shares, adds context and valuation, writes through)

Italy's UniCredit confirmed next year's earnings goal on Thursday after reporting a smaller-than-expected drop in second-quarter profit, as trading gains and cost cuts helped offset weakening revenues.

The head of UniCredit <CRDI.MI> on Wednesday said Italy's biggest bank was not interested in mergers and that it was unclear whether the coronavirus crisis would drive consolidation in European banking in general.

UniCredit chief executive Jean Pierre Mustier ruled out Italy's biggest bank could be interested in mergers and acquisitions, dismissing recent speculation in the domestic press about possible tie-ups.

The head of Italy's biggest bank, UniCredit, welcomed on Wednesday a European Union's deal on a post-pandemic recovery fund and said Europe's good response to the crisis was helping to drive a shift in investor sentiment towards the bloc's banks.

European banks need to be able to attract fresh capital and investors, in turn, need clarity on banks' future dividend payments following a temporary freeze triggered by COVID-19, the head of Italy's top bank UniCredit <CRDI.MI> said.

Investors must be able to assess the outlook for European banks, in terms of regulatory impacts and future dividend payments following a temporary payout freeze triggered by COVID-19, the head of Italy's top bank UniCredit said.

Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.

Mediobanca said on Tuesday it had started proceedings for Italy's biggest bank UniCredit to pay coupons on some financial instruments known as CASHES despite a decision to suspend dividend payments.

UniCredit Chief Executive Jean Pierre Mustier tells online forum: