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Credit Agricole to stay busy with Creval deal until mid-2021 - deputy GM

4:46am EST

Nov 23 (Reuters) - Credit Agricole Deputy GM Jérôme Grivet tells an analyst briefing::INTEGRATION RISKS IN CREVAL DEAL ARE "MINIMAL", IMPACT ON BANK'S CET1 RATIO LESS THAN 20 BPS PRO-FORMA END-SEPT.CREDIT AGRICOLE DEPUTY GM SAYS CREVAL DEAL WILL KEEP BANK BUSY UNTIL MID-2021, "TOO EARLY FOR THE WHAT'S NEXT QUESTION".CREDIT AGRICOLE DEPUTY GM SAYS ITALIAN PROPOSAL ON DTA BENEFITS FOR BANK MERGERS ALREADY REFLECTED IN SHARE PRICES, CREVAL DEAL SHOULD BENEFIT FROM IT IF IT BECOMES LAW.CREDIT AGRICOLE DEPUTY GM DECLINES TO COMMENT ON BANCO BPM, SAYS CREVAL DEAL FITS GROUP STRATEGY .Credit Agricole says in a slide: .EXPECTS TO GAIN REGULATORY CLEARANCE FOR CREVAL DEAL IN Q1, START TENDER OFFER IN MARCH-APRIL AND COMPLETE IT BY MAY - SLIDE .Further company coverage: PCVI.MI. (Reporting by Milan newsroom).

Credit Agricole to stay busy with Creval deal until mid-2021 - deputy GM

4:46am EST

Nov 23 (Reuters) - Credit Agricole Deputy GM Jérôme Grivet tells an analyst briefing::INTEGRATION RISKS IN CREVAL DEAL ARE "MINIMAL", IMPACT ON BANK'S CET1 RATIO LESS THAN 20 BPS PRO-FORMA END-SEPT.CREDIT AGRICOLE DEPUTY GM SAYS CREVAL DEAL WILL KEEP BANK BUSY UNTIL MID-2021, "TOO EARLY FOR THE WHAT'S NEXT QUESTION".CREDIT AGRICOLE DEPUTY GM SAYS ITALIAN PROPOSAL ON DTA BENEFITS FOR BANK MERGERS ALREADY REFLECTED IN SHARE PRICES, CREVAL DEAL SHOULD BENEFIT FROM IT IF IT BECOMES LAW.CREDIT AGRICOLE DEPUTY GM DECLINES TO COMMENT ON BANCO BPM, SAYS CREVAL DEAL FITS GROUP STRATEGY .Credit Agricole says in a slide: .EXPECTS TO GAIN REGULATORY CLEARANCE FOR CREVAL DEAL IN Q1, START TENDER OFFER IN MARCH-APRIL AND COMPLETE IT BY MAY - SLIDE .Further company coverage: PCVI.MI. (Reporting by Milan newsroom).

Credit Agricole deputy GM says no talks yet with ECB over use of badwill from Creval deal

4:38am EST

Nov 23 (Reuters) - Credit Agricole Deputy GM Jérôme Grivet tells an analyst briefing::NO DISCUSSION YET WITH THE ECB OVER USE OF BADWILL OF AROUND 1 BILLION EUROS GENERATED BY CREVAL DEAL.BASED ON CURRENT RULES, IT COULD USE PART OF BADWILL TO IMPROVE CREVAL IMPAIRED LOAN RATIOS.Further company coverage: PCVI.MICAGR.PA. (Reporting by Milan newsroom).

Credit Agricole deputy GM says no talks yet with ECB over use of badwill from Creval deal

4:38am EST

Nov 23 (Reuters) - Credit Agricole Deputy GM Jérôme Grivet tells an analyst briefing::NO DISCUSSION YET WITH THE ECB OVER USE OF BADWILL OF AROUND 1 BILLION EUROS GENERATED BY CREVAL DEAL.BASED ON CURRENT RULES, IT COULD USE PART OF BADWILL TO IMPROVE CREVAL IMPAIRED LOAN RATIOS.Further company coverage: PCVI.MICAGR.PA. (Reporting by Milan newsroom).

Credit Agricole not eyeing other M&A deal in Italy for now - country head

2:00am EST

Nov 23 (Reuters) - Credit Agricole Italy CEO Giampiero Maioli tells an analyst briefing: :NOTIFIED AUTHORITIES INCLUDING ECB, BANK OF ITALY, ITALY'S TREASURY OF CREVAL DEAL WHICH IT CONSIDERS FRIENDLY.COMBINED ENTITY WITH CREVAL TARGETS ROE OF 10% IN 2023.CREVAL DEAL ESTIMATED TO GENERATE 150 MLN EUROS IN SYNERGIES THANKS TO LOWER FUNDING COSTS, DE-RISKING, COST CUTS.FIGURE DOES NOT INCLUDE REVENUE SYNERGIES WHICH WILL ALSO BE "INTERESTING".IT IS TOO EARLY TO PROVIDE INDICATIONS OF SIZE OF CASH CALL.CASH CALL WILL BE CARRIED OUT TO REBUILD CAPITAL BUFFERS, NEEDS TO COMPLETE ECB APPROVAL PROCESS FOR CREVAL DEAL FIRST.PLANS TO BRING NPE RATIOS AT MERGED ENTITY IN LINE WITH BEST EUROPEAN STANDARDS.LAYOFFS IN CREVAL DEAL WILL BE VOLUNTARY, AGREED WITH UNIONS.TALKS WITH CREVAL TOP MANAGERS ON SUNDAY OVER DEAL WERE "VERY CORDIAL", THEY KNOW THEIR BANK'S SIZE IS TOO SMALL.WON'T COMMENT ON BANCO BPM, WE HAVE "A GREAT PARTNERSHIP" WITH THEM WHOSE PROSPECTS WE ARE DISCUSSING.FOCUSED ON CREVAL DEAL, DOESN'T EXPECT DEAL TO AFFECT DISCUSSIONS OVER PARTNERSHIP WITH BANCO BPM.RIGHTS ISSUE TO BE CARRIED OUT BY ITALIAN UNIT WITH GUARANTEES BY CREDIT AGRICOLE.HE DOES NOT ANTICIPATE ANY ANTITRUST ISSUES FOR CREVAL DEAL.NO M&A DISCUSSIONS WITH OTHER ITALIAN BANKS HAD BEEN TABLED.ASKED ABOUT POSSIBLE FURTHER EXPANSION IN ITALY, CREDIT AGRICOLE ITALY CEO SAYS THERE IS NOTHING AT PRESENT.Credit Agricole Italy CFO added:.NO DOUBT THAT CASH CALL WILL BE COVERED. (Reporting by Milan newsroom).

Credit Agricole not eyeing other M&A deal in Italy for now - country head

2:00am EST

Nov 23 (Reuters) - Credit Agricole Italy CEO Giampiero Maioli tells an analyst briefing: :NOTIFIED AUTHORITIES INCLUDING ECB, BANK OF ITALY, ITALY'S TREASURY OF CREVAL DEAL WHICH IT CONSIDERS FRIENDLY.COMBINED ENTITY WITH CREVAL TARGETS ROE OF 10% IN 2023.CREVAL DEAL ESTIMATED TO GENERATE 150 MLN EUROS IN SYNERGIES THANKS TO LOWER FUNDING COSTS, DE-RISKING, COST CUTS.FIGURE DOES NOT INCLUDE REVENUE SYNERGIES WHICH WILL ALSO BE "INTERESTING".IT IS TOO EARLY TO PROVIDE INDICATIONS OF SIZE OF CASH CALL.CASH CALL WILL BE CARRIED OUT TO REBUILD CAPITAL BUFFERS, NEEDS TO COMPLETE ECB APPROVAL PROCESS FOR CREVAL DEAL FIRST.PLANS TO BRING NPE RATIOS AT MERGED ENTITY IN LINE WITH BEST EUROPEAN STANDARDS.LAYOFFS IN CREVAL DEAL WILL BE VOLUNTARY, AGREED WITH UNIONS.TALKS WITH CREVAL TOP MANAGERS ON SUNDAY OVER DEAL WERE "VERY CORDIAL", THEY KNOW THEIR BANK'S SIZE IS TOO SMALL.WON'T COMMENT ON BANCO BPM, WE HAVE "A GREAT PARTNERSHIP" WITH THEM WHOSE PROSPECTS WE ARE DISCUSSING.FOCUSED ON CREVAL DEAL, DOESN'T EXPECT DEAL TO AFFECT DISCUSSIONS OVER PARTNERSHIP WITH BANCO BPM.RIGHTS ISSUE TO BE CARRIED OUT BY ITALIAN UNIT WITH GUARANTEES BY CREDIT AGRICOLE.HE DOES NOT ANTICIPATE ANY ANTITRUST ISSUES FOR CREVAL DEAL.NO M&A DISCUSSIONS WITH OTHER ITALIAN BANKS HAD BEEN TABLED.ASKED ABOUT POSSIBLE FURTHER EXPANSION IN ITALY, CREDIT AGRICOLE ITALY CEO SAYS THERE IS NOTHING AT PRESENT.Credit Agricole Italy CFO added:.NO DOUBT THAT CASH CALL WILL BE COVERED. (Reporting by Milan newsroom).

FBN Holdings Plc Reports Qtrly Group Net Interest Income 61,463 Mln Naira

Friday, 20 Nov 2020 12:10pm EST

Nov 20 (Reuters) - FBN Holdings PLC ::FBN HOLDINGS PLC - QTRLY GROUP NET INTEREST INCOME 61,463 MILLION NAIRA.FBN HOLDINGS PLC - QTRLY GROUP PROFIT BEFORE TAX 21,910 MILLION NAIRA.

Oberbank Says Chairwoman Herta Stockbauer Resigns

Friday, 20 Nov 2020 11:43am EST

Nov 20 (Reuters) - Oberbank AG ::CHAIRWOMAN OF THE SUPERVISORY BOARD HERTA STOCKBAUER WILL RESIGN IN THE UPCOMING SUPERVISORY BOARD MEETING, WHICH WILL TAKE PLACE ON NOVEMBER 25, 2020.

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