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Search resuls for: "Jean Pierre Mustier"

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FILE PHOTO: A man walks in front of the Monte dei Paschi bank in Siena, central Italy, January 29, 2016. Italy’s Treasury and Bank of America declined to comment, while Orrick was not immediately available. Rome is expected to pay about 150,000 euros in financial and legal fees, with the lion’s share going to Bank of America, the sources said. Rome has set aside 1.5 billion euros to shore up MPS but the bank faces a shortfall of at least 2 billion, sources have said. In the case of MPS, that entails a 3 billion euro earnings boost, sources have said.
Persons: Max Rossi, Giorgio Cocini, Patrizio Messina, Marco Nicolini, Orrick, Jean Pierre Mustier, Organizations: Treasury, of America, REUTERS, Bank, America’s, Bank of America, UBI Banca, MPS, Banco Locations: MILAN, dei, Siena, Italy, Tuscany, Rome
UniCredit suspends split plan after ECB bond buying relief
  + stars: | 2020-11-05 | by ( Valentina Za | ) + 0.00   time to read: +3 min
MILAN (Reuters) - UniCredit CRDI.MI has put plans to split its domestic and foreign operations on ice, saying heavy bond buying by the European Central Bank kept its sovereign risk profile in check. UniCredit reported a third-quarter net profit of 680 million euros ($798 million), above an average forecast of 334 million euros in a company-provided consensus, and higher core capital. Unlike Intesa, which on Wednesday also beat expectations with a strong third quarter, UniCredit saw income from lending decline despite funds borrowed by the ECB at negative rates, after customers used government-guaranteed funds to repay loans. Mustier said UniCredit, which slightly raised its target for cost cuts, would expand lending once the economy improved. UniCredit CRDI.MI shares were up 0.7% at 1148 GMT against a flat European sector .SX7P.
Persons: CRDI.MI, UniCredit, Jean Pierre Mustier, Mustier, , , Intesa Sanpaolo, UBI, Fees, UniCredit CRDI.MI Organizations: MILAN, European Central Bank, REUTERS, ECB, Intesa’s Locations: Milan, Italy, Germany, Austria, Europe, digitalisation, dei
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