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BancoBPM


News

Credit Agricole joins French rivals in upbeat Q2, shares jump

* Q2 profits beat consensus * Record activity in CIB * Shares lead European banks in morning trading By Julien Ponthus PARIS, Aug 4 (Reuters) - French banking group Credit Agricole's CAGR.PA shares rose sharply on Thursday after it joined rivals BNP Paribas BNPP.PA and Societe Generale SOGN.PA in announcing better-than-expected quarterly profits driven by buoyant investment banking.
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French bank Credit Agricole beats expectations in Q2 amid record CIB activity

PARIS, Aug 4 (Reuters) - Credit Agricole SA CAGR.PA beat market expectations for second-quarter profits amid record activity in its investment banking division as torrid financial markets boosted clients' demand for hedging products. Net income came in at 1.98 billion euros ($2 billion), a figure about 800 million euros higher than the average estimate of analysts.
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Italian bank shares sink further on government debt jitters

* Italy risk premium vs Germany at fresh 2-yr high of 244 bps * Banking index down 3.6% after 8.5% drop on Friday * Monte dei Paschi faces more costly capital raising * Banks have cut BTP holdings, remain exposed to loan losses By Valentina Za MILAN, June 13 (Reuters) - Shares in Italian banks plunged further on Monday as investors fretted about Rome's debt costs surging higher ahead of the European Central Bank's first rate hike in over a decade.
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Italy's GDP could shrink in 2022-2023 if Russia gas flows stop - BOI

MILAN, May 31 (Reuters) - A stop to Russian gas flows could lead to a contraction in Italy's gross domestic product (GDP) on average in 2022-2023, central bank Governor Ignazio Visco warned on Tuesday. In the text of a speech prepared for the Bank of Italy annual general meeting, Visco highlighted how the Italian and German economies were the worst hit by the Ukraine crisis given their high reliance on Russian gas and large, energy-intensive manufacturing sectors.
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Italy's GDP could shrink in 2022-2023 if Russia gas flows stop - BOI

MILAN, May 31 (Reuters) - A stop to Russian gas flows could lead to a contraction in Italy's gross domestic product (GDP) on average in 2022-2023, central bank Governor Ignazio Visco warned on Tuesday. "In April, we calculated that the protraction of the conflict in Ukraine could mean about 2 percentage points less growth overall, for this year and the next," Visco said in the text of a speech prepared for the Bank of Italy annual general meeting.
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European banks weather Ukraine war in Q1 earnings

LONDON, May 5 (Reuters) - European banks counted the rising cost of war in Ukraine on Thursday as France's Societe Generale, Credit Agricole and Italy's UniCredit upped provisions for the conflict without shattering investors' confidence in their prospects. The Italian lender, one of Europe's banks most exposed to Russia where it runs AO UniCredit Bank, surprised the market by saying it would soon start a 1.6 billion euro ($1.7 billion) share buyback even as Russia-related provisions drove first
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UniCredit surprises with buyback as it tackles Russia exit

* Regulators approved 1.6 bln euro buyback * Russia provisions hit profit, but revenues beat forecasts * Cuts Russia exposure, says full exit is 'complicated' * Expects to have clarity on Russia endgame in Q2 (Recasts after analyst call) By Valentina Za MILAN, May 5 (Reuters) - UniCredit CRDI.MI cheered investors by saying it would soon start a 1.6 billion euro ($1.7 billion) share buyback put at risk by the Ukraine war, even as it set aside almost as much to cover the cost of quitting Russia.
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Credit Agricole tells Rome no plans to win control of Banco sources

* Credit Agricole became leading investor in country's No.3 bank * Move has stoked speculation of full takeover * Rome would look with concern at such an option, source says By Giuseppe Fonte and Valentina Za ROME, April 13 (Reuters) - Credit Agricole CAGR.PA has told Italy's Treasury it has no plans to take control of Banco BPM BAMI.MI , two sources close to the matter told Reuters, after the French lender's purchase of a 9.2% stake last week raised the prospect of a full bid.
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France's Credit Agricole takes 9.2% stake in Italy's Banco BPM

* Says it did not seek clearance to go above 10% * Banco BPM looking for merger partner * UniCredit had readied bid for Banco BPM By Valentina Za and Andrea Mandala MILAN, April 8 (Reuters) - Credit Agricole CAGR.PA has bought a 9.2% stake in Italy's third-largest lender Banco BPM BAMI.MI , the French bank said late on Thursday, increasing exposure to its biggest foreign market.
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Third time lucky? Why Banco BPM appeals to UniCredit CEO

By Valentina Za and Andrea Mandala MILAN, March 2 (Reuters) - Italy's third-largest bank Banco BPM BAMI.MI has occupied a special place on the wish list of Andrea Orcel since the veteran dealmaker took the reins at UniCredit CRDI.MI last April, several sources have said. Fruitless negotiations with Italy's government over a possible rescue deal for state-owned Monte dei Paschi BMPS.MI stopped Orcel from making a move for Banco BPM last year.
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UniCredit's Banco BPM bid plan stymied by Ukraine crisis, sources say

By Pamela Barbaglia LONDON, March 3 (Reuters) - UniCredit CRDI.MI has paused efforts to buy Banco BPM after losing more than a fifth of its value since Russia invaded Ukraine, two sources close to the matter told Reuters. Stock in UniCredit, Italy's second-largest bank, has dropped by more than 20% since Feb. 24, when Ukraine came under attack, with investors worrying about its 14.2 billion euro ($15.7 billion) credit exposure to Russia as of last summer.
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UniCredit's Banco BPM bid plan stymied by Ukraine crisis, sources say

By Pamela Barbaglia LONDON, March 2 (Reuters) - UniCredit CRDI.MI has paused efforts to buy Banco BPM after losing more than a fifth of its value since Russia invaded Ukraine, two sources close to the matter told Reuters. Stock in UniCredit, Italy's second-largest bank, has dropped by more than 20% since Feb. 24, when Ukraine came under attack, with investors worrying about its 14.2 billion euro ($15.7 billion) credit exposure to Russia as of last summer.
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Third time lucky? Why Banco BPM appeals to UniCredit CEO

By Valentina Za and Andrea Mandala MILAN, March 2 (Reuters) - Italy's third-largest bank Banco BPM BAMI.MI has occupied a special place on the wish list of Andrea Orcel since the veteran dealmaker took the reins at UniCredit CRDI.MI last April, several sources have said. Fruitless negotiations with Italy's government over a possible rescue deal for state-owned Monte dei Paschi BMPS.MI stopped Orcel from making a move for Banco BPM last year.
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Shares in Italian bank Carige fall after BPER picked for rescue deal

(Refiles to add name of Italian banking fund in para 2) * Deal would address longstanding banking headache * BPER on expansion path, to become No.4 bank by assets * Deal to cost healthy lenders 530 mln euros * Carige shares plunge 10.5%, BPER shares up By Andrea Mandala and Valentina Za MILAN, Jan 11 (Reuters) - Shares in Italian bank Carige CRGI.MI fell more than 10% on Tuesday after domestic rival BPER Banca EMII.MI secured exclusive rights to discuss an acquisition of the ailing lender.
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Italian banking fund meets to pick Carige's buyer

By Andrea Mandala and Valentina Za MILAN, Jan 10 (Reuters) - The Italian fund that owns Carige CRGI.MI will meet on Monday to pick a buyer for the bank from among three suitors, with which to negotiate a sale it hopes will end a seven-year crisis at the ailing lender. Carige and bigger rival Monte dei Paschi di Siena BMPS.MI are the two main banking headaches Italy must address to complete a restructuring that has cost healthy lenders more than 10 billion euros ($11 billion) in recent years.
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UniCredit's Orcel pledges profitable new chapter for Italian bank

(Refiles to correct to "this week" in lead) * Unveils business plan on Dec. 9 under new CEO Orcel * Markets expect extraordinary share buyback * Under pressure to revive revenue and profit * To bet on digital integration with product suppliers By Valentina Za MILAN, Dec 6 (Reuters) - Andrea Orcel must convince UniCredit CRDI.MI investors that he can deliver on a promise to grow the Italian bank profitably when he presents its new strategy this week.
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Italy's Banco BPM to take insurance in-house in new plan

* Aiming for net profit of more than 1 bln euros in 2024 * Q3 net profit 110.7 mln euros vs forecast 78 mln * CEO says happy to go it alone, but will monitor M&A By Andrea Mandala and Valentina Za MILAN, Nov 5 (Reuters) - Italy's Banco BPM BAMI.MI said on Friday it planned to acquire full ownership of its insurance partnerships as part of a new multi-year plan that aims to achieve net profit of more than 1 billion euros ($1.2 billion) in 2024. The new profit target and quarterly results, which w
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Italy, UniCredit in deadlock over MPS as deadline nears

* Size of MPS cap hike seen as main hurdle to a deal -sources * Negotiators say UniCredit capital demands hard to meet -sources * Orcel studied Banco BPM takeover before MPS talks -sources * Italy must cut 64% MPS stake at latest by mid-2022 By Valentina Za, Pamela Barbaglia and Giuseppe Fonte MILAN, Oct 22 (Reuters) - UniCredit boss Andrea Orcel and Italy's government are poles apart over the terms of a deal to buy ailing bank Monte dei Paschi (MPS), people involved in the talks say, with the s
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Banks grant Lavazza 500 mln euro loan for green projects

MILAN, Sept 21 (Reuters) - A pool of Italian banks has granted a 500-million euro ($587 million) loan to Lavazza to fund projects aimed at making the coffee maker more sustainable, a statement issued by the lenders said on Tuesday. BNP Paribas's BNL, Banco BPM and Intesa Sanpaolo have acted as mandated lead arrangers and lenders in the transaction that involves a term loan and a revolving credit line, both with a five-year maturity, the banks said.
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