May 14, 2014 / 11:50 AM / 3 years ago

Italian bank UBI says cooperating with tax police

MILAN, May 14 (Reuters) - Italy's fifth-biggest bank UBI said on Wednesday the group was cooperating with tax police searching its offices as part of a probe into alleged obstruction of regulators.

In a statement, UBI said the searches followed complaints filed in 2012 by a consumer group and an entrepreneur about UBI leasing, its leasing unit.

Another complaint was filed in July 2013 by members of the supervisory board alleging the existence of shareholder pacts that were kept hidden from regulators, UBI said.

"The group gave various answers and clarifications at the time to the competent regulatory authorities and there are no new developments or further updates as of today," it said in a statement.

Reporting by Silvia Aloisi

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