BANCI | ENGLISH

UniCredit CEE Division transfered from Bank Austria to UniCredit SpA

Autor:

2016-09-30 19:11

Transfer of CEE Division from Bank Austria to UniCredit SpA (press release):

The transfer of the CEE Division, including the CEE Subsidiaries, from UniCredit Bank Austria AG to UniCredit Holding has been successfully completed

UniCredit informs that the transfer of the CEE Division, including the shareholdings of CEE subsidiaries, from UniCredit Bank Austria AG to UniCredit S.p.A. has been successfully completed following the registration of the demerger of the CEE Division from UniCredit Bank Austria AG to UCG Beteiligungsverwaltung GmbH and the subsequent cross border merger of UCG Beteiligungsverwaltung GmbH into UniCredit S.p.A. with the competent companies’ registers of Vienna and Rome, having all regulatory approvals been granted.

The reorganization following the completion of the demerger and the merger will become effective as at October 1, 2016.

In this respect, bonds issued by Bank Austria (except for groupinternal transactions) are not within the scope of the demerger.

The reorganization will allow to simplify the structure and strengthen the central steering functions under the direct supervision of the Group’s General Manager, Gianni Franco Papa, in line with the reorganization announced on July 26th, while preserving the existing know how and customers’ relationships.

The CEE Division is a core asset of the UniCredit Group and is expected to remain a core engine of growth, by leveraging on its exposure to the most dynamic European markets and by enhancing the synergies with the other divisions, while increasing the Group’s flexibility in allocating capital, funding and liquidity across the regions thanks to the new corporate structure.

The management team of CEE Division will continue to be led by Carlo Vivaldi, Head of CEE Division, who will be supported by the following business heads: Andrea Diamanti, as Head of CEE CIB, Ivan Vlaho, as Head of CEE Retail and Jan Tronicek, as Head of CEE Private Banking, and the majority of the team will continue to be located in Vienna.

Furthermore, UniCredit informs that today the merger deed concluded between UCG Beteiligungsverwaltung GmbH and UniCredit S.p.A. has been made available to the public through publication on the website of the company www.unicreditgroup.eu in the section “Governance – Corporate Transactions”.

Comentarii

Adauga un comentariu

Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: ENGLISH

Neutral interest rate in Romania

The neutral nominal rate in Romania has been falling since the start of inflation targeting in 2005. The Taylor Rule clearly shows that interest rates peaked in 2022 and have been on a clear downward path ever since.Furthermore, the model estimates a long-term neutral nominal rate of around 3.9%, which is the equivalent of approx. 1.4% real.Using a more sophisticated model (i.e. New York FED’S HLW model), the real neutral interest rate in Romania is estimated currently at around 1.5% (1.7% 2023 average) and the historical mean at 1.2%.This implies a neutral nominal rate between 4.00% and 4.50%. In the past decade, the NBR real effective rate was below the neutral rate and only over the past year climbed above the neutral mark.Source: Erste Bank

Merger of Alpha Bank and UniCredit Bank Romania

Press Release:"Alpha Services and Holdings announces a strategic partnership with UniCredit in RomaniaMerger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by... detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policyIn its meeting of 4 April 2023, the Board of the National Bank of Romania decided:• to keep the monetary policy rate at 7.00 percent per annum;• to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum;• to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and electricity prices, under the impact of significant base effects and the change made to the energy price capping and compensation scheme starting 1... detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release:ING posts FY2022 net result of €3,674 million,proposed final 2022 dividend of €0.389 per share 4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%•Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income•Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter•Risk costs declined to 17 bps of average customer lending Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits•On a full-year basis, our primary customer base grew by 585,000•Net core lending growth of €18 billion and net core deposits growth of €25 billion in 2022•Net result of €3,674 million in a challenging year; proposed final 2022 dividend of €0.389 per share CEO statement“Looking back, 2022 was... detalii