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UniCredit to launch Banco BPM tender as China's banks face profit decline
UniCredit is set to launch its €14bn all-share tender offer for Banco BPM from April 28 to June 23, following regulatory approvals. Meanwhile, China's largest banks report record low net interest margins at 1.48%, reflecting economic pressures and a push for credit expansion. In the UK, former Metro Bank executives accuse the FCA of inadequate supervision leading to a £900mn accounting error, while UBS has relaxed investment restrictions on defence companies amid rising geopolitical tensions, aligning with similar moves by other European firms.
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