|Bid||2.6170 x 740000|
|Ask||2.6690 x 730000|
|Day's Range||2.6200 - 2.6200|
|52 Week Range||2.1160 - 3.7920|
|Beta (3Y Monthly)||1.55|
|PE Ratio (TTM)||8.36|
|Forward Dividend & Yield||0.12 (4.62%)|
|1y Target Est||N/A|
Italy is considering merging troubled banks Monte dei Paschi (BMPS.MI) and Banca Carige (CRGI.MI) with healthier rivals such as UBI Banca (UBI.MI) as it scrambles to avert a new banking crisis, sources familiar with the matter said. Monte dei Paschi, rescued by the state in 2017, and Carige, recently put into special administration by the European Central Bank (ECB), are struggling with bad debts and the prospect of asset writedowns that would eat into their capital. According to one of the sources, the options being considered even include the possibility of a three-way merger that would bring together Monte dei Paschi, Carige and UBI.
European stocks were higher Tuesday morning, as market participants braced for a showdown in Westminster over the U.K. government's Brexit plan.
Banco BPM (BAMI.MI) rules out any tie-ups for the moment given uncertain market conditions, CEO Giuseppe Castagna said on Saturday when asked about the bank's interest in rivals Carige (CRGI.MI), UBI Banca (UBI.MI) or Monte dei Paschi (BMPS.MI). Banco BPM, which is Italy's third largest bank, has been mentioned in the press in recent days as a potential buyer of troubled Carige, which was put under temporary administration by the European Central Bank this month after it failed to raise capital from investors. In the past a three-way merger involving Banco BPM, which was created in 2017 from the merger of Popolare di Milano and Banco Popolare, UBI and Monte dei Paschi has been mooted as a possible solution to help Tuscany-based Monte dei Paschi which was bailed out by the state in 2016.
Unione di Banche Italiane SpA (BIT:UBI) is a small cap stock with a market capitalisation of €3.58b. As a company operating in the financial services sector, it faces the riskRead More...
Italy's fifth-largest bank UBI Banca said on Friday the bad loans on its books would fall below a key target of 10 percent of total lending sooner than expected. The bank had lagged domestic rivals in providing details on its plans to reduce bad loans, which have long been the focus of market concerns over Italian banks. UBI CEO Victor Massiah said on a media call he expected to lower the gross soured loan ratio below 10 percent by the middle of next year, compared with an earlier goal of between 2019 and 2020.