{
}
UniCredit S.p.A., a major European banking group, will initiate a bid for BPM on April 28, coinciding with Credit Agricole increasing its stake. The group's income is primarily derived from corporate and investment banking (50.6%) and retail banking (48.9%), with a network of 3,039 branches, mainly in Italy. By the end of 2024, UniCredit is expected to manage EUR 499.5 billion in deposits and EUR 418.4 billion in loans, with significant income distribution across Italy, Germany, Central Europe, Eastern Europe, and Russia.
Sergio Ermotti, CEO of UBS, topped the list of Europe's highest-paid bank CEOs in 2024 with a total remuneration of CHF 14.9 million, significantly exceeding the average for the continent's largest banks. Unicredit's Andrea Orcel followed closely with €13.2 million, marking a 32% increase. Meanwhile, the remuneration of bank executives faces scrutiny amid ongoing integration efforts at UBS and disputes over future capitalization.
Credit Agricole has received approval from the European Central Bank to increase its stake in Banco BPM to 19.9%. Currently holding a 9.9% position through derivatives, the French bank plans to acquire all underlying shares, resulting in a 19.8% stake. This move is expected to have a minor impact on its CET 1 ratio, slightly reducing it by about 20 basis points in the second quarter.
Credit Agricole has received approval from the European Central Bank to increase its stake in Banco BPM. This move is part of the bank's strategy to strengthen its position in the Italian banking sector. The decision reflects ongoing consolidation trends within European financial markets.
UniCredit will launch its buyout offer for Banco BPM on April 28, coinciding with Credit Agricole's announcement of securing approval to increase its stake to 19.9%. Despite ruling out a counterbid, Credit Agricole remains a significant obstacle for UniCredit's CEO Andrea Orcel, who aims to consolidate the Italian banking sector. The offer, valued at €14 billion, will run until June 23, amidst a backdrop of rising profits in Italy's banking industry following recent reforms.
Credit Agricole has received approval from the European Central Bank to increase its stake in Banco BPM, now holding 19.8%. The French bank clarified that it does not plan to make a public offer for the Italian lender's capital.
Credit Agricole has increased its stake in Banco BPM, complicating UniCredit's upcoming €14 billion tender offer set for April 28. UniCredit's bid, cleared by Consob, will run until June 23, while Credit Agricole aims to maintain its commercial interests in Italy amid ongoing M&A activity in the banking sector. UniCredit's CEO, Andrea Orcel, has invited BPM investors to discussions, emphasizing the need for equal treatment of shareholders.
Credit Agricole has received authorization from the ECB to increase its stake in Banco BPM S.p.A. to 19.9%. As Italy's third largest banking group, Banco BPM operates across six key areas, including private and investment banking, insurance, and asset management, with a network of 1,437 branches and significant current deposits and loans totaling EUR 102.5 billion and EUR 129.3 billion, respectively.
In 2024, Sergio Ermotti, CEO of UBS, topped the list of Europe's highest-paid bankers with a salary of 15.6 million euros, followed by Andrea Orcel of Unicredit at 13.2 million euros, marking a 32% increase. The average salary for CEOs of the top 10 European banks was 7 million euros, driven by exceptional profits from rising interest rates. Despite the substantial compensation, criticism arose regarding the high pay of bank executives, prompting Unicredit to defend Orcel's salary increase as essential for long-term commitment in a competitive market.
In 2024, UBS CEO Sergio Ermotti topped the list of Europe's highest-paid bankers with earnings of €15.6 million, followed by UniCredit's Andrea Orcel at €13.2 million, marking a 32% increase. Deutsche Bank's Christian Sewing rounded out the top three with €9.8 million. The surge in salaries is attributed to significant bank profits and rising stock prices.
CREDIT AGRICOLE
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
unicredit to initiate bpm acquisition bid as credit agricole increases stake
09:10 02.04.2025
sergio ermotti tops european bank ceo pay in 2024
Swiss Franc
Euro
United States Dollar
Ing. A. Dielissen Bouwkundig werk
CREDIT AGRICOLE
UniCredit S.p.A.
CHE
Philippe Brassac
Sergio Ermotti
Andrea Orcel
Steven van Rijswijk
Show more
09:01 02.04.2025
credit agricole secures ecb approval to boost banco bpm stake
08:46 02.04.2025
credit agricole secures ecb approval to boost banco bpm investment
08:42 02.04.2025
unicredit to launch buyout offer for banco bpm amid credit agricole stake increase
Euro
CREDIT AGRICOLE
Amundi S.A.
Banco BPM S.p.A.
Banca Monte dei Paschi di Siena
UniCredit S.p.A.
ITA
FRA
Louise Heavens
Giulia Segreti
Andrea Orcel
Show more
08:16 02.04.2025
credit agricole increases stake in banco bpm to 19.8 percent
08:16 02.04.2025
uniCredit prepares 14 billion euro bid for banco BPM amid credit agricole stake increase
Euro
CREDIT AGRICOLE
Banca Generali S.p.A.
Banco BPM S.p.A.
Anima Holding SpA
Commerzbank AG
UniCredit S.p.A.
ITA
FRA
DEU
Valentina Za
Andrea Orcel
Show more
08:14 02.04.2025
Credit Agricole to Boost Stake in Banco BPM to 19.9 Percent
08:11 02.04.2025
european bank ceos see record salaries amid rising profits in 2024
Euro
United States Dollar
CREDIT AGRICOLE
Intesa Sanpaolo
BNP Paribas SA
Banco Santander, S.A.
UBS Group AG
UniCredit S.p.A.
BBVALIQ P
Inogen, Inc.
Deutsche Bank Money Market PP
FRA
ESP
NLD
ITA
TUR
DEU
CHE
Jean-Laurent Bonnafé
Slawomir Krupa
Philippe Brassac
Carlo Messina
Andrea Orcel
Christian Sewing
Hector Grisi
Sergio Ermotti
Steven van Rijswijk
Show more
18:41 01.04.2025
Sergio Ermotti tops Europe's banker earnings with 15.6 million euros in 2024
Swiss Franc
Euro
CREDIT AGRICOLE
Intesa Sanpaolo
BNP Paribas SA
Banco Santander, S.A.
UniCredit S.p.A.
BBVALIQ P
Inogen, Inc.
Deutsche Bank Money Market PP
FRA
ESP
NLD
ITA
TUR
DEU
CHE
Onur Genc
Jean-Laurent Bonnafé
Slawomir Krupa
Philippe Brassac
Carlo Messina
Andrea Orcel
Christian Sewing
Hector Grisi
Sergio Ermotti
Steven van Rijswijk
Show more
13:17 01.04.2025
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Retail and Consumer Goods
Startups & Entrepreneurship
Global Financial Events
CEO Changes
Financial Scams and Security
Finance Mergers & Acquisitions
Banking Regulations
Market Analysis and Predictions
AI Innovations
Central Bank Actions
Industry Mergers & Acquisitions
Hedge Funds & Private Equity
Global Trade Developments
Workplace Trends
Supply Chain Management
Government Policies
Government Economic Policies
Countries:
Companies:
Tesla, Inc.
Wells Fargo & Company
Bank of America Corporation
The Goldman Sachs Group, Inc.
Barclays PLC
Apple Inc.
NatWest Group plc
JPMorgan Chase & Co.
NVIDIA Corporation
Lloyds Banking Group plc
Mastercard Inc
Visa Inc.
Santander UK plc
Citigroup Inc.
Morgan Stanley
HSBC Holdings plc
Nintendo Co., Ltd.
Berkshire Hathaway Inc.
Mercedes-Benz Group AG
Amazon.com, Inc.
Currencies:
United States Dollar
Chinese Yuan
British Pound Sterling
Swiss Franc
Euro
Japanese Yen
Indonesian Rupiah
Indian Rupee
United Arab Emirates Dirham
Offshore Chinese Yuan
Singapore Dollar
Qatari Riyal
South Korean Won
Jordanian Dinar
Brazilian Real
People: