|Bid||1.7868 x 809400|
|Ask||1.7886 x 700000|
|Day's Range||1.7448 - 1.8440|
|52 Week Range||1.5200 - 3.2900|
|Beta (3Y Monthly)||2.23|
|PE Ratio (TTM)||255.26|
|Earnings Date||Feb 5, 2019 - Feb 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.56|
By Helen Reid LONDON (Reuters) - European stocks fell on Tuesday, with banks weighing heavily on worries about slowing economic growth, fading earnings momentum, Italy's budget, and a lower likelihood ...
The euro zone's top three investment banks are facing an 11 billion euro (9.57 billion pounds) question from their supervisor. A decade after the start of the financial crisis, supervisors are still trying to make the banking sector more robust and avoid a repeat of the meltdown that started on trading floors and brought low the whole euro zone economy. ECB Vice President Luis De Guindos said after results of the Europe-wide stress test were published on Nov. 2 that the job was not done.
By Josephine Mason and Helen Reid LONDON (Reuters) - European shares were flat to slightly higher on Thursday as a rally following U.S. midterm elections sputtered while strong results from Societe Generale, ...
Italy's third-largest lender Banco BPM (BAMI.MI) saw its core capital improve in the third quarter and beat third-quarter net profit forecasts on Wednesday thanks to lower costs and an asset sale that helped offset flat fees and falling interest income. The bank, which was one of the weakest performers in last week's Europe-wide stress tests of the sector, said net profit for July-September came in at 172 million euros (149.87 million pounds), ahead of an average estimate of 160 million euros in a Reuters survey. In September BPM sold its depositary bank business to French rival BNP Paribas (BNPP.PA) with a positive earnings impact of 145 million euros.
BRUSSELS (Reuters) - A dozen euro zone banks, including some of the bloc's biggest, should strengthen their capital positions, European Central Bank Vice President Luis de Guindos said on Monday, reflecting ...
Britain's Barclays (BARC.L) and Lloyds (LLOY.L) were the surprise laggards in a European Union bank health check on Friday, although none of the 48 lenders tested failed a major capital threshold. The EU's banking watchdog published results on Friday for its toughest "stress test" since 2009, when it began the exercise to identify capital holes and avoid any repeat of the government bailouts triggered by the 2008 financial crisis. The latest test measured banks' ability to withstand theoretical market shocks like a rise in political uncertainty against a backdrop of plunging economic growth, a disorderly Brexit or a sell-off in government bonds and property.
Italy's Banco BPM (BAMI.MI), one of the banks that fared the worst in Europe-wide stress tests of the sector, said on Friday one-off costs had weighed on the outcome of the health check. Banco BPM, born in 2017 from the merger of Banco Popolare and Banca Popolare di Milano, said costs linked to the merger were one-off in nature but the tests had treated them as recurring over three years. The cumulative costs totaled more than 500 million euros and the bank said this meant the results could be misleading.
Italy's Banco BPM (BAMI.MI), one of the banks that fared the worst in Europe-wide stress tests of the sector, said on Friday one-off costs had weighed on the outcome of the health check. Banco BPM, born in 2017 from the merger of Banco Popolare and Banca Popolare di Milano, said costs linked to the merger were one-off in nature but the tests had treated them as recurring over three years. The cumulative costs totalled more than 500 million euros and the bank said this meant the results could be misleading.
British banks Barclays and Lloyds, and Italian lender Banco BPM fared worst on Friday in a European Union wide stress test of banking resilience to simulated market shocks. Analysts have said that banks who fail to complete the "adverse" or toughest part of the test without preserving a capital ratio of well above 5.5 percent, when all new and planned capital rules are applied, risk having to raise more capital or sell risky assets. While none of the 48 lenders tested broke below 5.5 percent, Barclays ended with a ratio of 6.37 percent, Banco BPM with 6.67 percent, and Lloyds with 6.8 percent.
Italy's Banca Carige (CRGI.MI) has been categorised as "fragile" in a European Central Bank test of European lenders, with its capital ratio falling below a level set by regulators in an "adverse" scenario, Il Sole 24 Ore reported on Friday. Carige's problems are widely known and the ECB has already taken them into account in asking the Genoa-based bank to come up with a capital conservation plan by the end of this month, the Italian newspaper said. Banca Carige, which was not immediately available to comment, is not among the 48 major European banks whose European Banking Authority (EBA) stress test results are due to be published at 1700 GMT on Friday.
Italian banks have lost nearly 40 billion euros (35 billion pounds) of market capitalisation since May, with small and mid-sized lenders worst-hit by a sell-off on concerns that Rome's budget crisis will lead to a capital crunch in the third-largest euro zone economy. Faced with the government's unwillingness to accommodate European Union demands for fiscal discipline, investors have been dumping Italian government bonds, which account for about 10 percent of Italian banks' total assets. The hefty loss in market capitalisation comes as the euro zone banking watchdog releases results of its latest stress test of European lenders, with Italian banks under the greatest scrutiny.
Italian banks are expected to be in focus again when results of the latest stress test of top European lenders are released this week, a health check that could force laggards to raise capital or ditch assets. The closely watched test of 48 banks across the European Union will be published by the European Banking Authority (EBA), the bloc's banking watchdog, at 1700 GMT on Friday. It is being touted as EBA's toughest test since the exercise was introduced in 2009 to identify any capital holes and ensure taxpayer rescues like those seen during the financial crisis a decade ago are not needed in future.
European shares fell at the end of a choppy trading session on Monday, as relief over Moody's decision to keep Italy's sovereign rating outlook stable proved short lived and the focus turned to Europe's response to Rome's budget plans. The European benchmark index had risen as much as 0.7 percent in early deals after the agency on Friday kept Italy's outlook at "stable" even as it cut the country's rating to one notch above junk status, because of concerns over government budget plans.
European banking supervisors have stepped up their monitoring of liquidity levels at Italian banks after a sharp increase in the country's government bond yields, although there is no cause for alarm, a senior EU source said on Tuesday. The checks involve both customer deposits and the interbank market that banks use to lend to each other without requesting collateral, the source said, adding that "no sign of alarm" had been detected. Both the Bank of Italy and the European Central Bank, the euro zone's single banking supervisor, declined to comment.
Italy's government is working on new measures for a state guarantee scheme aimed at easing bad loan disposals and is examining the possibility of extending it to unlikely-to-pay loans, an update to its economic and finance document showed. The current so-called GACS scheme, introduced at the beginning of 2016, was conceived to help the country's banks offload their bad loans and expires in March next year. "Discussions with the European Commission will start in the last quarter of 2018 in order to agree on the characteristics of the scheme and to avoid it being classified as state aid," the government said in the document, adding it would also proceed with the completion of the reform of co-operative and popolari banks.
A spike in Italy's bond yields has put the country's banks under renewed pressure, raising the spectre of capital shortfalls just as challenging refinancing deadlines near. Caught in the bank-sovereign "doom loop," Italian banks replaced fleeing foreign investors during the euro zone debt crisis of 2011-2012, buying up Italy's bonds.
Italy's third-largest bank Banco BPM (BAMI.MI) expects binding offers by mid-November for up to 9.5 billion euros (8 billion pounds) of bad loans, a source familiar with the matter said on Friday. Three groups of investors had been shortlisted and the source said each group would be able to present multiple offers because the final size of the portfolio to be sold has yet to be decided. To cushion the hit to capital from Banco BPM's planned disposal, the bank is also looking to sell its debt-collection business.
Italy's third-largest bank Banco BPM expects binding offers by mid-November for up to 9.5 billion euros ($11 billion) of bad loans, a source familiar with the matter said on Friday. Three groups of investors had been shortlisted and the source said each group would be able to present multiple offers because the final size of the portfolio to be sold has yet to be decided. To cushion the hit to capital from Banco BPM's planned disposal, the bank is also looking to sell its debt-collection business.
MILAN/LONDON (Reuters) - European shares rose slightly on Thursday, reversing initial losses, as anxiety over political stability in Italy appeared to ease just hours before a cabinet meeting to set budget targets. A newspaper report that an Italian cabinet meeting on 2019 budget goals would be pushed back a few days raised worries that Economy Minister Giovanni Tria could resign, risking putting Rome on a collision course with the European Union. The prime minister's office later denied the report and the meeting was finally set for 1800 GMT, easing initial worries.
MILAN/LONDON (Reuters) - European shares climbed on Monday thanks to a relief rally in Italian stocks and banks after comments from Italy's finance minister eased concerns about his government's spending plans. The export-oriented DAX (.GDAXI) rose 0.2 percent and Italy's FTSE MIB (.FTMIB) jumped 2.3 percent - its biggest gain in three months. Late on Friday, Trump warned he was ready to impose tariffs on virtually all Chinese imports, threatening duties on another $267 billion of goods on top of $200 billion worth set for levies in coming days.
By Julien Ponthus LONDON (Reuters) - European shares traded lower on Wednesday as trade tensions and growing worries about emerging market currencies cut investor appetite for risky assets. The pan-European ...
European shares abandoned early gains and closed in negative territory on Tuesday, as investors grew increasingly worried that the United States would slap new tariffs on Chinese imports and get the trade war in full swing.
As a small-cap bank stock with a market capitalisation of €3.08b, Banco BPM Società per Azioni’s (BIT:BAMI) risk and profitability are largely determined by the underlying economic growth of theRead More...