|Bid||1.9026 x 0|
|Ask||1.9032 x 0|
|Day's Range||1.8932 - 1.9300|
|52 Week Range||1.8620 - 2.7200|
|Beta (3Y Monthly)||1.57|
|PE Ratio (TTM)||8.31|
|Earnings Date||Jul 31, 2019|
|Forward Dividend & Yield||0.20 (8.43%)|
|1y Target Est||2.58|
European bank supervisors think Italy's long-struggling Banca Carige should be closed if it can't find a buyer, contrary to Rome's plan for a state rescue, four sources close to the matter said. Carige's case, the latest in a series of bank crises in an Italian economy still reeling from the last recession, is likely to once again pit Rome's anti-establishment government against the European Central Bank in Frankfurt after skirmishes on the euro. The sources said supervisors had no immediate plan to pull the plug on Carige and still hope the bank, which has been marred by years of maladministration and a stagnant economy in its domestic region of Liguria, can find an investor.
European voters will head to the polls later this month to choose new representatives to the European Parliament. The vote is being seen as a key test between Euroskeptic and pro-EU parties. The anti-establishment and partly nationalist coalition in charge of Italy have slowly normalized the way they do politics since coming to power, the CEO of Intesa Sanpaolo told CNBC Wednesday.
Italy's biggest retail bank, Intesa Sanpaolo, does not see any possible benefit from a merger with another European bank, Chief Executive Carlo Messina said on Tuesday. Messina made the comment to reporters when asked about last week's collapse of merger talks between Deutsche Bank and Commerzbank, a breakdown that has sparked talk that other banks could now be interested in Commerzbank.
A rescue plan for Italy's Carige by U.S. asset manager BlackRock would allow a fund financed by Italian lenders to take part in a cash call at the Genoa-based bank, the chief executive of Intesa Sanpaolo said on Tuesday. Carlo Messina said the BlackRock proposal was consistent with a restructuring plan drafted by Carige's temporary administrators which allowed the Italian banking fund to take a stake by converting debt into equity. Italian banks propped up Carige in November by buying a 320 million euro (£276 million) hybrid bond to beef up its total capital via the voluntary-contribution arm of a depositor guarantee fund.
European shares closed marginally higher on Monday led by gains for Banco Santander, as investors chose to focus on the positives of a weekend win for Prime Minister Pedro Sanchez's ruling socialists in Spain's third election in four years. Sanchez's pro-European PSOE won Sunday's election, but was short of a parliamentary majority, meaning it will need the help of regional parties, or the centre-right, to form a coalition government. Jitters around the result of the poll, added to weak euro zone economic sentiment data, had pushed markets lower in morning trade in Europe.
Moody's Investors Service (Moody's) has today affirmed Intrum AB (publ)'s (Intrum's) Corporate Family rating (CFR) and local and foreign currency senior unsecured debt ratings at Ba2. Moody's has also withdrawn Intrum's instrument rating outlooks for its own business reasons.
Moody's Investors Service ("Moody's") has today upgraded the long-term local-currency deposit ratings of National Bank of Egypt SAE ("NBE"), Banque Misr SAE ("BM"), Banque Du Caire SAE ("BdC") and Commercial International Bank (Egypt) SAE ("CIB") to B2 from B3, and their long-term foreign currency deposit ratings to B3 from Caa1. The rating agency has also upgraded Bank of Alexandria SAE's ("Alex Bank") long-term local currency deposit rating to B1 from B2, and its long-term foreign currency deposit rating to B3 from Caa1.
Slovenian banks posted a combined net profit of 35.8 million euros ($40.3 million) in January, up 5.5 percent compared with the same month last year, the Bank of Slovenia said in its monthly report on Wednesday. It added that banks had reduced the amount of non-performing loans on their books to 1.7 billion euros, or 3.9 percent of all loans, down from 4 percent a month before and 5.7 percent in January 2018. Slovenia, which narrowly avoided having to accept an international bailout for its banks in 2013, plans to sell its third-largest bank, Abanka, by the middle of this year.
Around 30 parallel deals were signed on the sidelines of the visit to Rome by Chinese President Xi Jinping, including 10 with Italian companies and others with ministries and public bodies. Italian Deputy Prime Minister Luigi Di Maio said the deals were worth an initial 2.5 billion euros ($2.8 billion) but had a potential value of 20 billion. Italy's state lender Cassa Depositi e Prestiti (CDP) signed an agreement with Bank of China to let it sell "Panda" bonds - debt sold by foreign entities to investors in mainland China.
The country has stumbled from crisis to crisis, as it fought a rearguard action against the European Union’s rules for handling failing lenders. This week, EU judges gave Rome a rare moment of joy. The bloc’s general court, its second-highest tribunal, ruled on Tuesday that the 2014 rescue of Banca Tercas SpA by the Italian deposit guarantee scheme didn’t break the law.
A potential merger between Deutsche Bank and rival Commerzbank does not signal a new wave of banking consolidation in Europe, the chairman of Italy's biggest retail lender Intesa Sanpaolo said on Monday. ...
MILAN (Reuters) - A potential merger between Deutsche Bank and rival Commerzbank does not signal a new wave of banking consolidation in Europe, the chairman of Italy's biggest retail lender Intesa Sanpaolo ...
Announcement: Moody's announces completion of a periodic review of ratings of Intesa Sanpaolo S.p.A. Madrid, March 13, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Intesa Sanpaolo S.p.A. and other ratings that are associated with the same analytical unit. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.