BNP, BBVA, UniCredit Report Strong Profits
European banks BNP Paribas, BBVA and UniCredit Reported upbeat earnings results: French banking major BNP Paribas reported net income of €2.9bn ($3.4bn) in Q2, a 27% YoY jump. Its domestic markets division saw revenues rise ~10% while investment banking (IB) reported...
Banca Monte-UniCredit Merger Prospects Recede; Monte’s bonds fall 4%
FT reports that merger prospects between UniCredit and Banca Monte Paschi dei Sienna (BMPS) are receding after the Italian government refused conditions attached by UniCredit’s new CEO Andrea Orcel. Orcel’s demands were considered too costly despite the Treasury...
UniCredit To Skip Coupon on CASHES Bond
A spokesman of UniCredit said on Friday that the bank would not be paying coupons on their euro-denominated convertible and subordinated hybrid equity-linked note known as CASHES (ISIN: XS0413650218) after the Italian lender posted a €2.79bn ($3.4bn) loss in 2020....
