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UniCredit SpA has received approval from the European Central Bank to acquire Banco BPM SpA, a smaller Italian competitor. This clearance allows UniCredit to gain direct control of Banco BPM and its subsidiaries, including Anima Holding SpA. The final step for the approval process will be completed by the Italian market regulator Consob next week.
UniCredit SpA has announced a dividend payment of €1.4764 per share. Additionally, shareholders have overwhelmingly approved the Banco BPM offer, receiving 99.88% support for the decision.
Goldman Sachs has reinstated coverage on UniCredit SpA, assigning a Buy rating with a price target of EUR 63.00, following a 44% rise in its shares in 2025, outperforming the European banking sector. Analysts expect strong fee income growth and effective cost control to enhance profitability, while UniCredit's return on tangible equity is projected to exceed 16%. The bank's valuation, now at approximately 8.9 times its 12-month forward P/E, aligns with sector peers, indicating a favorable outlook amidst a recovering European banking landscape.
Goldman Sachs has reinstated coverage on Commerzbank AG with a Neutral rating and a price target of EUR25.50, noting a year-to-date share surge of 53.76%. Despite strong earnings growth potential and a projected return on tangible equity increase, the current valuation reflects these prospects, leading Goldman to suggest more attractive investment opportunities elsewhere in the European banking sector.In related news, Deutsche Bank raised its price target for Commerzbank to EUR22.00, maintaining a Buy rating, while the bank's CEO plans significant job cuts to enhance profitability. Additionally, short interest in Commerzbank has risen to 10%, indicating a potential high-risk squeeze scenario.
UniCredit Spa has received approval from the Central Bank of Ireland to acquire an indirect controlling interest in BBPM Life, a life insurance company regulated under Irish law. This move is part of a voluntary total exchange offer for all ordinary shares of Banco BPM Spa. Following this announcement, UniCredit's shares fell by 2.8% to EUR53.41.
UniCredit CEO Andrea Orcel expressed readiness to wait until 2027 to evaluate the potential acquisition of Commerzbank, emphasizing the importance of patience in implementing their strategic plan. Following the European Central Bank's approval for a stake increase to 29.9%, Orcel noted that any decision on the matter could come after 2025, despite opposition from Commerzbank and Berlin. He also conveyed a cautious outlook on mergers and acquisitions in the European banking sector, citing lengthy approval processes.
German antitrust authorities have set an April 14 deadline for initial approval of UniCredit's application to acquire a substantial stake in Commerzbank. The process is reportedly taking longer than anticipated, according to UniCredit's CEO.
UniCredit Bank Serbia is set to receive a €10 million senior unsecured loan under the FIF - Go Digital in the Western Balkans Programme. The funding aims to enhance automation, digitalisation, and green technologies for eligible SMEs, with a focus on achieving at least 60% investment in green economy transition projects. The initiative supports SMEs in accessing finance and increasing competitiveness while ensuring compliance with environmental and social standards.
Sergio P. Ermotti serves as the CEO of UBS AG and holds various leadership roles, including Chairman of Investindustrial Acquisition Corp. and Swiss Re AG. His extensive experience includes previous positions at UBS Group AG, UniCredit SpA, and Merrill Lynch, among others, showcasing his influence in the financial sector. Additionally, he is involved with several foundations and organizations, emphasizing his commitment to global banking and economic development.
Cassa Depositi e Prestiti has issued an EUR800 million bond to UniCredit to support investments in Italian SMEs and Mid-Caps. The funds will be used for new loans of up to EUR20 million, with at least 51% allocated to small and medium-sized enterprises across Italy, particularly in southern regions. This initiative builds on a previous EUR750 million bond issued in 2022, enhancing credit access for over 27,000 companies and mobilizing more than EUR2.5 billion in resources in the last five years.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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