EFG International AG (EFGN.S)

EFGN.S on Swiss Exchange

22 Mar 2018
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Latest Key Developments (Source: Significant Developments)

BSI says H1 net profit stood at 66.2 mln Swiss francs
Wednesday, 10 Aug 2016 

: BSI says h1 consolidated net profit stood at chf 66.2 million (1h2015: chf 78.1 million), influenced by series of extraordinary items (Reporting By Zurich newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

EFG CFO: No need for impairment on life insurance portfolio
Wednesday, 27 Jul 2016 

: EFG International CFO says he expects revenue from life insurance portfolio to remain subdued . Efg international ceo says generally our business in uk us quite diversified and so far we haven’t seen too much of an impact from brexit, constraints from uk’s negotiations with eu could have an impact . Efg international cfo says on life insurance portfolio, concluded the balance sheet remains fully recoverable, therefore there is no need to take impairment Further company coverage: [EFGN.S ] (Reporting By Zurich newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

EFG International to take over BSI’S business in Singapore in accelerated asset deal
Thursday, 14 Jul 2016 

EFG International Ag : Says to take over BSI’s business in Singapore in an accelerated asset deal .Subject to obtaining required approvals, the migration of the acquired part of the business is planned to complete by the end of November 2016 at the latest..  Full Article

EFG International announces future management structure after closing of BSI acquisition
Tuesday, 5 Jul 2016 

EFG International AG : Announces future management structure after closing of acquisition of BSI . Extraordinary general meeting will be held on July 26 .Proposes to EGM creation of additional authorized capital of 15,000,000 registered shares.  Full Article

BSI says Roberto Isolani to replace Stefano Coduri as group CEO
Tuesday, 24 May 2016 

: BSI says takes note of the announcements by FINMA and MAS in relation to past compliance gaps related to the 1mdb case . BSI says integration process with EFG is progressing smoothly and as previously announced, once the transaction closes, BSI will be fully merged and integrated into EFG . BSI says Monetary Authority Of Singapore (MAS) will be allowing the transfer of the assets and liabilities of bsi bank limited (BSI’s Singapore subsidiary) to the Singapore branch of EFG bank ag . BSI says financial penalties levied by FINMA and MAS will be paid from BSI’s general reserves for banking risks . BSI says Stefano Coduri decides to step down with immediate effect. Roberto Isolani appointed group CEO . BSI says has undertaken steps to strengthen management, including introduction of a new chief risk officer and the appointment of a new group legal counsel (Reporting By Zurich newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

EFG International says fine in 1MDB case will result in reduction in BSI purchase price
Tuesday, 24 May 2016 

EFG International Ag : Says receives approval from the Swiss financial market supervisory authority FINMA regarding the proposed acquisition of BSI . Says transaction is on track and is expected to complete at the latest in the fourth quarter of 2016, as originally announced . Says taken note of FINMA’s and MAS' press releases in connection with the BSI related 1MDB matter . Says share purchase agreement with BTG Pactual has an indemnity in relation to these and certain other matters up to the overall purchase price . Says indemnity backed by material Swiss escrow account which, at closing, will contain 51.0m EFG shares issued to BTG as consideration, with shares locked up for 2 years .Says the fine and the penalty will result in a reduction in the purchase price and that the indemnities and escrow account remain unchanged.  Full Article

EFG International to acquire UBI Banca International (Luxembourg)
Thursday, 28 Apr 2016 

EFG International AG:Has agreed to acquire the Luxembourg-based private banking activities of UBI Banca International (Luxembourg) S.A. with approx. 3.6 billion euros of client assets.Says subject to regulatory approval, the transaction is expected to be completed during the first half of 2017.UBI's branches in Madrid and Munich are excluded from the transaction, as are its fiduciary and corporate banking activities.Financial terms of the transaction are not disclosed.  Full Article

EFG International updates on financing for the combination with BSI
Thursday, 7 Apr 2016 

EFG International AG:Announces update on financing for combination with BSI, including commitment by EFG Group to exercise its full subscription rights in intended rights offering.Capital increases in connection with the acquisition of BSI.Ordinary share capital increase by way of a rights offering of up to 81,699,347 newly issued registered shares at a subscription price of at least CHF 6.12.Creation of new authorized share capital, authorizing the Board of Directors to issue up to 75,958,871 registered shares to BTG Pactual as consideration, to be delivered at the closing of the transaction.  Full Article

UPDATE 1-EFG International outflows continue, posts 2017 loss

ZURICH, Feb 28 EFG International on Wednesday reported a worse-than-expected 2017 net loss as customer outflows continued and it absorbed integration costs from its takeover of rival Swiss private bank BSI.