Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Unicredit to meet on reorganisation in Dec

Source: Reuters - Mon 23rd Nov 2009

Italian bank UniCredit's board will meet on Dec. 15 to start a reorganisation of its Italian business, a source close to the bank said on Monday.

Executives for Italy's largest bank met earlier this month to discuss slimming down the company's corporate structure, sources close to the matter said.

Chief executive Alessandro Profumo has long wanted to streamline operations in Italy, one of the sources said, adding:"The board will meet to discuss the launch of the plan and will give the mandate for a feasibility analysis".

The plan will integrate UniCredit Banca, Banca di Roma, Banco di Sicilia, private banking, and corporate banking into the group holding, according to reports.

The source said the results of the study should be presented in mid-March at the same time as 2009 results.

Last week, UniCredit shareholders approved a rights issue of up to 4 billion euros ($6 billion) aimed at shoring up capital ratios.

Comment on this Story

 
Be the first to comment on this Story !!

Recommended Items