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Top related persons:
Jennifer Lorenzini - 1 Equita - 1 Akros - 1 Siena - 1 Valentina Za - 1 Kirsten Donovan - 1 TUA - 1 TUA Assicurazioni - 1
Top related locs:
Monte dei Siena Italy Italy's MILAN Generali Mediobanca Talanx
Top related orgs:
Thomson - 3 REUTERS - 1 Generale - 1 Banca Akros - 1 ICCREA - 1 Bank - 1 Banca Generali - 1 Generali - 1

Search resuls for: "ICCREA"


5 mentions found


☆ Larger Italian banks still seen paying one-off tax despite opt-out offer
  + stars: | 2023-09-25 | by ( Valentina Za | ) www.reuters.com   time to read: +2 min
The government sparked a market rout last month with the surprise announcement of a 40% tax on the profits banks are reaping from rising interest rates. The option would benefit banks that hold a higher proportion of Italian government bonds among their assets relative to loans. Banca Akros and broker Equita also expect most banks to pay the tax. Equita also said paying the levy would allow lenders to maintain more flexibility over their remuneration policy. Switching the tax basis to risk-weighted assets helps banks which have a lower 'risk density', meaning the average risk weight per unit of exposure.
Persons: Jennifer Lorenzini, Equita, Akros, Siena, Valentina Za, Kirsten Donovan Organizations: REUTERS, Generale, Banca Akros, ICCREA, Bank, Banca Generali, Thomson Locations: Monte dei, Siena, Italy, Italy's
☆ Generali's TUA Assicurazioni draws foreign bid interest
  + stars: | 2023-07-21 | by ( Amy-Jo Crowley Valentina Za | Amy-Jo Crowley | Valentina Za | ) www.reuters.com   time to read: +1 min
TUA Assicurazioni, a non-life company founded in 2003, is valued at around 300 million euros ($335 million), according to the sources. Two sources mentioned German insurance heavyweight Allianz (ALVG.DE), fellow German insurer Talanx (TLXGn.DE) and France's Groupama as potential bidders. One of them also named Italy's Itas as one of up to five parties that could bid in the second round. Talanx has expressed interest in ICCREA's non-life business and is competing with Swiss Helvetia Group (HELN.S), Groupama and Italian cooperative insurer Assimoco. ($1 = 0.8946 euros)Additional reporting by Gianluca Semarero in Milan, writing by Keith Weir Editing by Keith Weir and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
Persons: TUA, TUA Assicurazioni, Italy's, ICCREA, Talanx, Rothschild, Mediobanca, Groupama, Gianluca Semarero, Keith Weir, Louise Heavens Organizations: Generali, Cattolica, Allianz, Swiss Helvetia Group, Itas, Thomson Locations: MILAN, Generali, Mediobanca, Talanx, Milan
☆ Italy's Banco BPM enters payments deal with Gruppo BCC Iccrea and FSI
  + stars: | 2023-07-14 | by ( ) www.reuters.com   time to read: 1 min
July 14 (Reuters) - Italy's third-largest bank Banco BPM (BAMI.MI) said on Friday it agreed together with Gruppo BCC Iccrea and domestic private equity fund FSI to create the country's second largest player in the payments business. FSI, founded by former Merrill Lynch banker Maurizio Tamagnini, and unlisted bank Iccrea jointly run the BCC Pay payments business. Banco BPM partners with NEXI (NEXII.MI), Europe's biggest payments company by volume of transactions. On completion of the deal, Banco BPM said it and Iccrea will control 28.6% each of Pay Holding - which controls BCC Pay - and FSI will hold 43%. The venture will have a domestic market share of more than 10%, Banco BPM said.
Persons: Merrill Lynch, Maurizio Tamagnini, Baranjot Kaur Organizations: Banco, Gruppo BCC Iccrea, Pay, Thomson Locations: Bengaluru
☆ Italy's ICCREA awaits offers by end May for insurance business
  + stars: | 2023-04-26 | by ( Valentina Za Amy-Jo Crowley | Valentina Za | Amy-Jo Crowley | ) www.reuters.com   time to read: +2 min
MILAN, April 26 (Reuters) - Italian unlisted cooperative banking group ICCREA is awaiting by the end of May offers for its insurance business which it values at up to 950 million euros ($1.05 billion) in total, sources with knowledge of the matter said on Wednesday. ICCREA bought out its partner Cattolica, an Italian insurer now owned by bigger peer Generali (GASI.MI), after their accord expired at the end of last year and was not renewed, the three sources said. Cattolica and ICCREA had agreed in 2019 to extend until the end of 2022 their partnership under a deal that saw Cattolica raise to 70% its ownership of their insurance joint-ventures BCC Vita and BCC Assicurazioni. Now in possession of 100% of its insurance business, ICCREA is working with adviser KPMG to select new partners for both its life- and non-life divisions, the sources said. ICCREA Director General Mauro Pastore said in February the bank expected to select one or more partners for its insurance business by the end of the year.
☆ Italy's FSI invests up to $110 million in debit card operator BANCOMAT
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +2 min
MILAN, April 26 (Reuters) - Italian investment fund FSI has agreed to invest up to 100 million euros ($110 million) in debit card operator BANCOMAT to support its expansion in Europe. Under a new business plan drawn up by the company, its main shareholders and FSI, BANCOMAT will complete targeted acquisitions and build a new platform to offer clients a wider range of services and products. In early 2022, it invested in the payments business of cooperative banking group BCC ICCREA, acquiring a 60% stake in electronic payment company BCC Pay. The payments sector has been swept up in a wave of mergers and acquisitions as it seeks the financial muscle to keep up with technological advances while contending with the threat from new entrants. The accord comes after FSI last year signed a preliminary deal for an investment in BANCOMAT.
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