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UniCredit

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Reuters - 1 week ago

Italy's economy minister rules out additional bank taxes

UPDATE 1-Italy's economy minister rules out additional bank taxes Adds details on previous one-off bank tax move from paragraph 4 ROME, Aug 7 (Reuters) - The Italian government has no plans to impose additional taxes on bank profits, Economy Minister Giancarlo Giorgetti said on Wednesday, in an effort to quash press speculation about new levies on banks and other companies.
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Reuters - 1 week ago

Italy's economy minister rules out additional bank taxes

Italy's economy minister rules out additional bank taxes ROME, Aug 7 (Reuters) - Italian Economy Minister Giancarlo Giorgetti said the government had no plans to impose additional taxes on bank profits, in an effort to quash press speculation about new levies on banks and other companies. Answering a question at a press conference on Wednesday, Giorgetti said he had been wondering what the source of such speculation was.
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Reuters - 1 week ago

Italy's BPER profit hit by staff exits but outlook stands

UPDATE 2-Italy's BPER profit hit by staff exits but outlook stands Adds analyst comments, shares, details on outlook MILAN, Aug 7 (Reuters) - Italy's fourth-largest bank BPER Banca EMII.MI on Wednesday reported a 35.5% yearly drop in net income for the second quarter, after agreeing to fund nearly 600 new requests of early retirement from staff. B PER, which has grown rapidly through acquisitions in recent years, said net profit for the three months through June totalled 267 million euros ($292
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Reuters - 1 week ago

Italy's Monte dei Paschi lifts guidance as turnaround strategy yields results

UPDATE 2-Italy's Monte dei Paschi lifts guidance as turnaround strategy yields results Sets higher profit goals for 2026, 2028 Plans IT investments to digitise business Owning 100% of insurance business would be "positive"-CEO Recasts after analyst call By Valentina Za MILAN, Aug 6 (Reuters) - State-owned Italian bank Monte dei Paschi di Siena BMPS.MI on Tuesday raised its profit outlook and dividend payout goal through 2028, after second quarter earnings came in well ahead of expectations.
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Reuters - 1 week ago

MPS upgrades outlook after quarterly profit soars above forecast

CORRECTED-UPDATE 1-MPS upgrades outlook after quarterly profit soars above forecast Corrects Q2 profit figure in paragraph 6 to 826.5 million euros (not 862.5 million MILAN, Aug 6 (Reuters) - State-owned Italian bank Monte dei Paschi di Siena BMPS.MI raised its profit outlook on Tuesday after posting much higher- -than-expected second quarter earnings, helped by tax credits.
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Reuters - 1 week ago

Ares Management leads private credit drive in Italy

CORRECTED-Ares Management leads private credit drive in Italy Corrects headline to private 'credit' not 'equity' Small Italy firms offer opportunities to private equity Some mid-market private equity firms opening offices in Milan Private credit funds moving in to finance buyouts Direct lending market growth faces constraints - Deloitte By Valentina Za MILAN, Aug 5 (Reuters) - Global private credit firms, including industry leader Ares Management, are increasingly focused on Italy as more small
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Reuters - 1 week ago

European banks at March lows amid global sell-off

European banks at March lows amid global sell-off Aug 5 (Reuters) - Shares in European lenders tumbled in early trading on Monday as investor fears mounted over the possibility that the United States could be heading for recession, after surprisingly weak employment data on Friday. The region-wide banking index .SX7P shed some 4.4%, hitting its lowest since March.
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Reuters - 2 weeks ago

UniCredit says it faces second court case in Russia over guarantee payments

UPDATE 1-UniCredit says it faces second court case in Russia over guarantee payments Adds context and background from paragraph 2-8 MILAN, Aug 2 (Reuters) - UniCredit CRDI.MI faces a second court case in Russia linked to guarantee payments the Italian bank was not able to honour due to Western sanctions imposed on Moscow after it invaded Ukraine in early 2022, it said in its half-year report.
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Reuters - 2 weeks ago

UniCredit says it faces second court case in Russia over guarantee payments

UniCredit says it faces second court case in Russia over guarantee payments MILAN, Aug 2 (Reuters) - UniCredit CRDI.MI faces a second court case in Russia linked to guarantee payments the Italian bank was not able to honour due to Western sanctions imposed in the wake of Russia's invasion of Ukraine, it said in its half year report. Reporting by Va
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Reuters - 2 weeks ago

European banks set for worst day since March 2023

BUZZ-European banks set for worst day since March 2023 ** A gauge of European banks .SX7P is down nearly 4% and is set for its biggest one-day drop since March 2023, when the sector was rocked by the collapse of Credit Suisse and concerns over the stability of U.S. regional banks ** Drop in the sector comes after Societe Generale SOGN.PA cuts its guidance for its French retail net interest income and following meetings by central banks in top Western economies.
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Reuters - 2 weeks ago

SocGen shares tumble on French retail weakness

UPDATE 4-SocGen shares tumble on French retail weakness Full-year French NII to fall short of target Shares down more than 7% Q2 net income beats estimates Sees CET1 ratio above 13% at end of 2024 Adds detail on share fall in paragraph 3; analysts in paragraph 9 By Mathieu Rosemain PARIS, Aug 1 (Reuters) - Societe Generale SOGN.PA cut a key target for its French retail division on Thursday, overshadowing a quarterly earnings beat and sending the bank's shares tumbling.
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Reuters - 2 weeks ago

Intesa lifts profit goal after stronger than expected quarter

UPDATE 2-Intesa lifts profit goal, signals extra rewards after strong quarter Shares extend gains, up 3% on better than forecast results Sees room to approve share buybacks at year-end Hedging strategy helps it to offset peaking market rates Adds CEO quote in paragraph 2, details on capital in paragraph 3, analyst comment in 15; Russia details in 17 By Valentina Za MILAN, July 30 (Reuters) - Italy's biggest bank Intesa Sanpaolo ISP.MI on Tuesday raised its profit outlook, after posting stronger
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Reuters - 2 weeks ago

Intesa lifts profit goal after stronger than expected quarter

Intesa lifts profit goal after stronger than expected quarter MILAN, July 30 (Reuters) - Italy's biggest bank Intesa Sanpaolo ISP.MI on Tuesday raised its profit forecast for this year and the next, after posting better than expected second quarter earnings. With net lending income still rising despite euro zone interest rates having peaked and a strategy to grow net fees bearing fruit, Intesa posted a net profit of 2.47 billion euros for the three months through June, above a Reuters consensus
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Reuters - 2 weeks ago

Austria's RBI to 'drastically' shrink business in Russia

UPDATE 4-Austria's Raiffeisen sees sale of 60% of Russia business as likeliest option Under heavy US and ECB pressure, Raiffeisen cuts Russia business Sale or spinoff of Russia unit faces numerous hurdles Bank unsure if it will be able to extract assets from Russia Recasts throughout with CEO comments to analysts By Alexandra Schwarz-Goerlich and Tom Sims VIENNA, July 30 (Reuters) - Austria's Raiffeisen Bank International RBIV.VI , the biggest Western bank in Russia, believes a sale of 60% of it
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Reuters - 2 weeks ago

SocGen’s valuation salvation may lie in a breakup

BREAKINGVIEWS-SocGen’s valuation salvation may lie in a breakup The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Liam Proud LONDON, July 29 (Reuters Breakingviews) - Société Générale SOGN.PA is firmly out of favour. Shares in the 19 billion euro French lender trade at one-third of forecast tangible book value – a 60% discount to the 11-member peer group detailed in the company’s annual report .
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Reuters - 2 weeks ago

Jet2, Natwest Group, Unilever

EUROPE RESEARCH ROUNDUP-Jet2, Natwest Group, Unilever July 29 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Jet2, Natwest Group and Unilever, on Monday. HIGHLIGHTS * BAE Systems BAES.L : Citigroup raises to buy from neutral * Drax Group Plc DRX.L : Morgan Stanley raises target price to 670p from 650p * Jet2 Plc JET2.L : HSBC raises target price to 2020p from 1980p * Natwest Group Plc NWG.L : Berenberg raises target price to 415p
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Reuters - 3 weeks ago

Six banks settle European bond price fixing litigation in New York

Six banks settle European bond price fixing litigation in New York By Jonathan Stempel NEW YORK, July 26 (Reuters) - Six banks including Bank of America BAC.N and Citigroup C.N agreed to pay $80 million to settle antitrust litigation in New York accusing them of conspiring to rig prices of European government bonds. A preliminary settlement with Bank of America, Citigroup, Jefferies JEF.N , NatWest NWG.L , Nomura 8604.T and UBS UBSG.S was filed late Friday in Manhattan federal court, and require
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Reuters - 3 weeks ago

Italy's banks have low exposure to Portugal house market, central bank says

Italy's banks have low exposure to Portugal house market, central bank says MILAN, July 26 (Reuters) - The Bank of Italy on Friday said the country's lenders had a limited exposure to Portugal's residential property market and there was no need to ask them to hold additional capital against such exposure. In October Portugal's central bank introduced an additional capital charge for banks that extended residential property loans to individuals in the country if they used internal risk models to
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Reuters - 3 weeks ago

Italy - Factors to watch on July 26

Italy - Factors to watch on July 26 The following factors could affect Italian markets on Friday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*). For a complete list of diary events in Italy please click on IT/DIA . ECONOMY ISTAT releases July consumer and business confidence data (0800 GMT) and Q2 wage inflation data (0900 GMT).
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Reuters - 3 weeks ago

UniCredit drops parts of EU court appeal against ECB's Russia demands

UPDATE 1-UniCredit drops parts of EU court appeal against ECB's Russia demands Recasts with further comments ROME, July 25 (Reuters) - Italian bank UniCredit CRDI.MI said on Thursday it was dropping some elements in its application to the European Court of Justice against a European Central Bank request to reduce exposure to Russia. The decision to amend the complaint to the court and withdraw parts of it follows clarifications UniCredit received from the ECB, the bank said in a statement on its
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