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Banco Bpm SpA (BAMI.MI)

BAMI.MI on Milan Stock Exchange

2.52EUR
15 Dec 2017
Change (% chg)

€-0.06 (-2.33%)
Prev Close
€2.58
Open
€2.54
Day's High
€2.56
Day's Low
€2.50
Volume
32,629,230
Avg. Vol
25,655,582
52-wk High
€3.58
52-wk Low
€2.16

Latest Key Developments (Source: Significant Developments)

Banco BPM close to picking buyer for 1.8 bln euros in bad loans - CEO
Wednesday, 13 Dec 2017 05:16am EST 

Dec 13 (Reuters) - Banco BPM CEO Giuseppe Castagna says::HAS RECEIVED SEVERAL BINDING OFFERS FOR 1.8 BILLION EURO BAD LOAN PORTFOLIO, WILL PICK BUYER IN NEXT FEW DAYS.ANY POSSIBLE UPDATE TO BANK'S NPL DISPOSAL PLAN WILL BE DISCUSSED IN FEBRUARY WHEN FY RESULTS ARE APPROVED.  Full Article

Anima signs contract for credit facility and a bridge-to-equity loan
Friday, 10 Nov 2017 03:29am EST 

Nov 10 (Reuters) - ANIMA ::SAID ON THURSDAY SIGNED DEFINITIVE AGREEMENTS WITH BANCO BPM <<>> FOR THE PURCHASE OF ALETTI GESTIELLE SGR.PAYMENT OF THE ACQUISITION WILL BE SETTLED BY ANIMA HOLDING THROUGH CASH AND WILL BE FINANCED PARTLY THROUGH ITS EQUITY AND PARTLY BY MEANS OF A BANK LOAN.INTENDS TO PROPOSE TO THE SHAREHOLDERS’ MEETING A SHARE CAPITAL INCREASE OF UP TO €300 MILLION (INCLUSIVE OF ANY SHARE PREMIUM), WITH PRE-EMPTION RIGHTS.SAID ALSO ENTERED INTO A CONTRACT FOR A MEDIUM LONG-TERM REVOLVING CREDIT FACILITY WITH A POOL OF BANKS FOR UP TO €550 MLN AND A BRIDGE-TO-EQUITY LOAN UP TO A MAXIMUM OF.€300 MILLION TO BE REPAID WITH THE PROCEEDS OF THE ABOVE MENTIONED CAPITAL INCREASE.ANIMA HOLDING WILL ENTIRELY PAY BACK IN ADVANCE THE EXISTING FINANCING (€180MILLION MATURING ON JUNE 30, 2019) WITH ITS OWN FUNDS CURRENTLY AVAILABLE.  Full Article

Banco BPM CEO rules out needing to raise capital due to bad loans
Thursday, 9 Nov 2017 01:40pm EST 

Nov 9 (Reuters) - Banco BPM CEO Giuseppe Castagna tells analyst call::In the final phase of 2 billion euro unsecured bad loan sale, to receive binding offers in coming weeks to close by year-end.Aims to further increase share of non-Italian government bonds this year to diversify portfolio.Outflows from unlikely-to-pay to performing loans up 66 percent in first nine months.Rules out bank may need capital increase because of bad loans.Bank is in a position to use excess capital to further dispose of bad loans or increase coverage.Sees gross npe ratio at 16.1 percent in 2019 versus 17.9 percent under plan approved by ECB at time of merger - slide.  Full Article

Banco BPM posts 9-month net profit of 53 mln euros
Thursday, 9 Nov 2017 11:53am EST 

Nov 9 (Reuters) - Banco BPM says::nine-month net profit 53 million euros.coverage of gross non-performing loans rises to 49.1 percent at end-Sept.net fees and commissup 13.3 percent y/y in first nine months at 1.577 billion euros.loan loss provisions at 988 million euros in first nine months.pro-forma phased-in CET1 ratio 12.82 percent.pro-forma fully-phased CET1 ratio 12.49 percent.  Full Article

Banco Bpm to sell 65 pct stake in Avipop and Popolare Vita to Cattolica for Euro 853.4 mln
Friday, 3 Nov 2017 03:40pm EDT 

Nov 3 (Reuters) - Banco Bpm :Banco Bpm-‍reached agreement for sale of a 65% stake in Avipop Assicurazioni and popolare vita to Cattolica Assicurazioni, for euro 853.4 million​.Banco Bpm says ‍cattolica will have management control of insurance companies. Banco bpm will keep holding veto powers on significant strategic matters​.Banco Bpm says ‍Cattolica will finance this transaction with internal resources and by accessing debt capital markets.​.Banco Bpm says ‍transaction will be accretive on Cattolica's earnings, while designed financing structure will preserve its solid capital ratios​.‍Cattolica will appoint CEO of insurance companies, while Banco Bpm will appoint general manager​.  Full Article

Banco BPM picks Cattolica for exclusive talks on bancassurance deal
Tuesday, 17 Oct 2017 02:14pm EDT 

Oct 17 (Reuters) - Banco BPM says on Tuesday::enters exclusive talks with insurer Cattolica Assicurazioni over a bancassurance partnership regarding life and non-life business.period of exclusivity of two weeks will be granted to finalise the terms of the deal .  Full Article

Banco BPM agrees to repurchase stake in joint venture with insurer Aviva
Thursday, 28 Sep 2017 03:12pm EDT 

Sept 28 (Reuters) - Banco BPM says::signed deal with Aviva Group <<>> to repurchase the 50 percent plus one share in Avipop Assicurazioni, a joint venture it had created with the British insurer .purchase price of Avipop Assicurazioni's stake is 252.5 million euros plus a portion of dividends of Avipop for 2017 estimated at 12.5 million euros.deal will generate 15 basis point decline the bank's fully-loaded CET1 ratio .is it assessing proposals from primary insurance companies to try to find new partner for the insurance business .  Full Article

Italy's Cattolica files binding offer for bancassurance deal with Banco BPM
Wednesday, 27 Sep 2017 11:52am EDT 

Sept 27 (Reuters) - Cattolica Assicurazioni says: :presents binding offer for bancassurance partnership with Banco BPM.offer is for the acquisition of a majority ownership in Popolare Vita and in Avipop Assicurazioni as well as for the subscription of an agreement for the distribution of Life and P&C Insurance products.  Full Article

Banco BPM to issue 10-yr Tier II bond for 500 mln euros- lead manager
Thursday, 14 Sep 2017 09:00am EDT 

Sept 14 (Reuters) - Banco BPM: :* To issue 10-year Tier II bond for 500 million euros, sets yield at 4.375 percent - lead manager.  Full Article

Aviva says Aviva Italia to sell Italian joint venture to Banco BPM
Friday, 25 Aug 2017 02:57am EDT 

Aug 25 (Reuters) - AVIVA PLC ::AVIVA TO SELL ITALIAN JOINT VENTURE TO BANCO BPM.AVIVA ITALIA HOLDING SPA EXERCISED AN OPTION TO SELL ITS ENTIRE 50% SHAREHOLDING IN ITS JOINT VENTURE IN ITALY, AVIPOP ASSICURAZIONI S.P.A. AND SUBSIDIARY AVIPOP VITA S.P.A. TO BANCO BPM S.P.A.PROCEEDS WILL BE RECEIVED IN CASH ON COMPLETION.JOINT VENTURES IN ITALY WITH UBI, UNICREDIT, AS WELL AS BUSINESS UNITS AVIVA LIFE S.P.A. AND AVIVA ITALIA S.P.A. ARE UNAFFECTED.  Full Article

Creval's clean-up move hits other Italian banks

MILAN, Nov 8 Italian bank Creval's move to raise cash in order to shed bad debts prompted investors to dump the shares of its domestic peers on Wednesday on concerns they may also need fresh capital.