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Unione di Banche Italiane SpA (UBI.MI)

UBI.MI on Milan Stock Exchange

2.82EUR
18 Apr 2019
Change (% chg)

€-0.03 (-1.16%)
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€2.85
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Volume
11,170,842
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Latest Key Developments (Source: Significant Developments)

UBI Banca targets more ambitious cost cuts, credit quality in new business plan
Friday, 12 Apr 2019 

April 12 (Reuters) - UBI Banca CEO tells annual general meeting::NEW BOARD WILL DRAFT NEW BUSINESS PLAN ON THE BASIS OF CHANGED BUSINESS ENVIRONMENT.BANK TO HAVE MORE AMBITIOUS TARGETS FOR COST CUTTING, CREDIT QUALITY.  Full Article

Italy's UBI to cut 295 staff booking 64 mln euros in charges in Q1
Thursday, 28 Mar 2019 

March 28 (Reuters) - Unione di Banche Italiane says::TO BOOK 64 MILLION EUROS IN GROSS CHARGES IN Q1 AFTER SIGNING ACCORD WITH UNIONS OVER VOLUNTARY REDUNDANCIES.SEES COST SYNERGIES OF 19 MILLION EUROS A YEAR STARTING FROM 2019 THANKS TO JOB CUTS.ACCORD WITH UNIONS ENVISAGES 215 STAFF CUTS, ANOTHER 80 WILL LEAVE FOLLOWING RECENT PENSION LAW CHANGES.  Full Article

UBI CEO says studying leasing and factoring bad loan sale
Friday, 8 Feb 2019 

Feb 8 (Reuters) - UBI Banca CEO Victor Massiah tells media call::STUDYING POSSIBLE LEASING AND FACTORING BAD LOAN SALE, EXPECTS TO LOWER GROSS NPE RATIO SIGNIFICANTLY BELOW 10 PERCENT THIS YEAR.BANK SOLD MORE THAN 2 BILLION EUROS IN RETAIL BONDS IN H2 2018 BUT REMAINS READY TO SEIZE POSSIBLE WINDOWS TO ISSUE ON INSTITUTIONAL MARKETS.STARTED RAISING LENDING RATES AMID SLIGHTLY EASING COMPETITION TOWARDS END 2018, BUT IT WILL TAKE TO SHOW IN BANK'S NET INTEREST INCOME.  Full Article

UBI Banca Sees No Significant Impact From ECB Guidelines On NPLs On FY 2018, 2019-2020 Targets
Tuesday, 15 Jan 2019 

Jan 15 (Reuters) - Unione di Banche Italiane SpA ::NO SIGNIFICANT IMPACTS ARE EXPECTED WITH REGARD TO TARGETS AND PROJECTIONS FOR FINANCIAL YEAR 2018.NO SIGNIFICANT IMPACTS ARE EXPECTED WITH REGARD TO TARGETS ALREADY DISCLOSED IN 2019/2020 BUSINESS PLAN.  Full Article

Italy's UBI Banca not interested in Carige - CEO
Wednesday, 9 Jan 2019 

Jan 9 (Reuters) - Victor Massiah, the CEO of Italy's UBI Banca, says::UBI POSITION HAS NOT CHANGED, NOT INTERESTED IN BANCA CARIGE.  Full Article

UBI Banca Q3 Net Profit At EUR 1.6 Mln
Wednesday, 7 Nov 2018 

Nov 7 (Reuters) - Unione di Banche Italiane SpA ::9-MONTH NET PROFIT EUR 210.5 MILLION.Q3 NET FEE AND COMMISSION INCOME EUR 380.5 MILLION VERSUS EUR 400.6 MILLION IN Q2.FULLY LOADED CET1 RATIO AT END-SEPT AT 11.42 PERCENT FROM 11.42 PERCENT AT END-JUNE.Q3 NET LOAN TO CUSTOMERS WRITEDOWNS EUR 123.8 MILLION VERSUS EUR 140.5 MILLION IN Q2.Q3 NET PROFIT EUR 1.6 MILLION.Q3 OPERATING INCOME EUR 808.0 MILLION VERSUS EUR 911.4 MILLION IN Q2.GROSS NON-PERFORMING EXPOSURES AT END-SEPT 11.14 PERCENT OF TOTAL GROSS LOANS VERSUS 12.41 PERCENT AT END-JUNE.COVERAGE OF NON PERFORMING EXPOSURES AT END-SEPT 39.29 PERCENT VERSUS 40.52 PERCENT AT END-JUNE.PLAN TO CARRY OUT OPERATION TO DISPOSE OF BAD LOANS (WITHOUT SECURITISATION) BY THE END OF 2018/BEGINNING OF 2019 IS CONFIRMED.TREND FOR THE REDUCTION IN LOAN LOSSES COMPARED WITH 2017 IS FORECAST TO CONTINUE.NET INTEREST INCOME IN Q4 WILL DEPEND ON REPRICING POLICY FOR LOANS TO CUSTOMERS AND ON COST OF MEDIUM TO LONG-TERM FUNDING.OBJECTIVE OF CONTAINING OPERATING EXPENSES AHEAD OF SCHEDULE WITH RESPECT TO BUSINESS PLAN FORECASTS IS CONFIRMED.OWNS EUR 9.3 BILLION RELATING IN ITALIAN GOVERNMENT SECURITIES AT END-SEPT (EUR 9.9 BILLION AT 30.6.2018).Q3 NET PROFIT AFFECTED BY ONE-OFF EXPENSES FROM BUSINESS PLAN AND LOSSES FROM BAD LOAN SECURITISATION.  Full Article

UBI Banca Signs A Trade Union Agreement As Part Of Group Business Plan
Friday, 7 Sep 2018 

Sept 6 (Reuters) - Unione di Banche Italiane SpA ::UBI BANCA SIGNS A TRADE UNION AGREEMENT AS PART OF GROUP BUSINESS PLAN.  Full Article

UBI Banca Announces Securitisation Of Portfolio Of Bad Loans With Gross Book Value Of EUR 2.75 Bln
Thursday, 2 Aug 2018 

Aug 1 (Reuters) - Unione di Banche Italiane SpA ::ANNOUNCES SECURITISATION OF A PORTFOLIO OF BAD LOANS WITH A GROSS BOOK VALUE (GROSS NOMINAL VALUE) OF EUR 2.75 BILLION.A SECOND PORTFOLIO OF BAD LOANS IS BEING PREPARED FOR DISPOSAL, WITHOUT RECOURSE TO SECURITISATION.SENIOR NOTES WILL BE MAINTAINED IN UBI BANCA SPA'S PORTFOLIO AND WILL BEAR INTEREST EQUAL TO 6M EURIBOR + 0.5%.DECONSOLIDATION OF THE BAD LOANS UNDERLYING THE SECURITISATION IS EXPECTED IN THE 2018 THIRD QUARTER FINANCIAL RESULTS.AN ADDITIONAL BAD-LOAN PORTFOLIO IS CURRENTLY BEING DEFINED, EXPECTED TO BE MADE UP BY AROUND 90% OF UNSECURED LOANS.ADDITIONAL PORTFOLIO WILL BE SOLD BY END 2018/BEGINNING 2019 AND WILL NOT BE SECURITISED.AFTER LOAN DECONSOLIDATION, SEES PROFORMA RATIO OF GROSS NON-PERFORMING LOANS TO TOTAL GROSS LOANS TO FALL, BASED ON MARCH 2017 FIGURES, FROM 12.74% TO APPROX. 11.3%.  Full Article

UBI Banca CEO sees good Q1 despite residual loan writedowns
Friday, 6 Apr 2018 

April 6 (Reuters) - UBI Banca::CEO SAYS EVALUATING TAPPING GACS STATE GUARANTEE FOR BAD LOAN DISPOSALS.CEO SAYS LOOKING AT SECTOR CONSOLIDATION LIKE EVERYBODY ELSE BUT NO CONTACTS WITH ANYONE.CEO SAYS BANK TWO YEARS AGO DECIDED AGAINST POTENTIAL OFFER FOR MONTE DEI PASCHI BUT IF LENDER WERE ASKED TO LOOK AT IT AGAIN A NEW ASSESSMENT WOULD BE NECESSARY.CEO SAYS Q1 RESULTS WILL BE GOOD DESPITE RESIDUAL WRITEDOWNS DRIVEN BY ECB'S LOAN INSPECTION.SUPERVISORY BOARD CHAIRMAN SAYS CONDITIONS NOT IN PLACE FOR ANY M&A IN SHORT TERM, INCLUDING MONTE DEI PASCHI.  Full Article

UBI Banca Places 500 Mln Euro Bond Under EMTN Programme
Thursday, 5 Apr 2018 

April 6 (Reuters) - UBI BANCA :SAID ON THURSDAY IT LAUNCHED ITS FIRST SENIOR NON-PREFERRED BENCHMARK BOND ISSUE, FIXED RATE, FOR EUR 500 MLN UNDER THE EURO MEDIUM TERM NOTES PROGRAMME .ORDERS WERE RECEIVED FROM ABOUT 130 INVESTORS, FOR A TOTAL AMOUNT CLOSE TO EUR 1 BLN.TRANSACTION TO BE PRICED 5Y MID SWAP + 140 BASIS POINTS, WITH A COUPON OF 1.75 PCT.THE RE-OFFER PRICE WAS SET AT 99.877 PCT AND THE RELATED YIELD TO MATURITY AT 1.776 PCT.  Full Article