Cattolica rises to 100% of Abc Assicura
The group acquired the 40% stake held by Banca Popolare di Vicenza, in compulsory administrative liquidation - No expected impact on Cattolica's solvency
Cattolica Assicurazioni sells 100% of Cattolica Life
The group buys 40% of the joint venture with Pop Vicenza and sells the whole company to Monument Re - Impact of 5 million on profits, but cost cutting will have positive effects on future financial statements
Veneto banks: Padoan signs NPL transfer decree to Sga
The completion of the sale will allow Sga to take over the management of the credit portfolio.
Popolare di Vicenza, millionaires kidnappings from Zonin's family
The judge at the preliminary hearing ordered the precautionary seizure for 176 million euros on movable and immovable property registered to the wives and children of Zonin and five other former managers of the Veneto bank. Glimmer of compensation for over five thousand…
Schiavon: "Bank of Italy, out the whole truth about the Veneto banks"
Interview with GIOVANNI SCHIAVON, former president of the Court of Treviso and founder of the Veneto Banca Shareholders' Association - "There are many doubts about the statements of the head of Supervision of the Bank of Italy but the most important point concerns the function of the Bank…
Barrese (Intesa): "In the Veneto banks we have saved savings, businesses and families"
Speaking at the CL meeting in Rimini, the head of Intesa Sanpaolo's Banca dei Territori, Stefano Barrese, explained the reasons for bailing out Popolare di Vicenza and Veneto Banca: "We protected 50 billion in savings, 2 million…
Veneto Banca and Pop Vicenza: the hypothesis of "orderly liquidation" emerges
This is an alternative envisaged by European provisions which would save ordinary bonds and deposits over 100 thousand euros - Subordinated bonds would instead be cancelled, but the Italian government could reimburse their holders as will happen for MPS creditors...
Banks in the storm: after the Venetians, the Carige case explodes
After the Atlante fund refused to refinance Popolare di Vicenza and Veneto Banca, the Carige case broke out, where the first shareholder Malacalza fired CEO Bastianini causing the postponement of the capital increase and the consequent risk of the institution being placed in receivership…
Veneto Banca and Pop Vicenza, Padoan pressing on the EU: no bail-in
The minister throws water on the fire: "There is no liquidity problem. We need continuous monitoring of the situation and we hope to arrive at a consolidated solution in the short term" - Boards of directors of the two institutions convened for tomorrow
Veneto Banca and Pop Vicenza at risk of bail in
Tomorrow, Wednesday, crucial face-to-face between top management, the Treasury and the EU Antitrust - Brussels wants another billion from private investors to cover the losses on devaluations, but finding many resources is not easy and the proposed resolution…
Veneto Banca and Popolare di Vicenza: repayments for 440 million
The boards of directors have decided: Veneto Banca will pay the shareholders who have adhered to the offer 248,5 million euro, while the shareholders of Veneto Banca will receive 192,8 million.
Veneto Banca and Pop Vicenza, today the final data on the transaction
Once the results of the transaction and the related economic impacts on the two institutes are known, the management will be able to concentrate on drafting the industrial plans, which will have to concentrate on cutting costs and returning to profitability.
Veneto Banca and Pop Vicenza: rain of layoffs on the way
Voluntary exits and early retirements may not be enough to cover the cut in costs requested by Europe - The first to be hit will be the executives, then it will be the turn of the bankers - Unions on a war footing.
Popolare Vicenza and Veneto Banca: now the ECB is asking for 6,4 billion
According to the new estimate of the central institute, reported by Bloomberg, the 5 billion initially foreseen would no longer be enough - Yesterday in Brussels the meeting to find an agreement on the recapitalization, but we need to act quickly. Losses rise to 1,5 billion in 2016…
Popolare Vicenza and Veneto Banca in the grip of the ECB and the EU
Today the Treasury has to respond to the findings of the EU on the reimbursements to shareholders for previous losses: the go-ahead for the capital increase and the entry of the State depends on Brussels - Veneto Banca will formalize the 2016 losses during the day, while…
Popolare di Vicenza and Veneto Banca, EU: "The go-ahead for the bailout will soon"
Today the CEOs will report to the boards of directors on Thursday's meeting with the ECB - Viola supervisors: "We must act quickly, uncertainty creates enormous damage" due to the flight of capital and savers and the scarcity of liquidity.
Veneto Banca and Pop Vicenza: 70% refunds, closing today
After two extensions, the deadline was set for today, Tuesday 28 March, at 13.30. The boards of directors of the two banks will immediately take stock of the operation
Veneto Banca and Pop Vicenza, the offer to old members expires on Tuesday
The heads of the two institutes do not despair of reaching the target of 80% participation - Only after the closing of the operation will the councils be able to calculate exactly how much money is needed for the capital increase - There is talk of a total of 5 billion.
Veneto banks, repayments at the last run
The deadline for requests for reimbursement from savers and shareholders to Banca Popolare di Vicenza and Veneto Banca, which expired today, has been extended to Tuesday 28 March: in this way it is hoped to raise the quorum which would facilitate the recapitalization
Veneto Banca: membership at 60%, bailout closer
Meanwhile, the CEO of Banco Bpm, Giuseppe Castagna, has opened up the possibility of using Atlante 2 for the further recapitalization of Banca Popolare di Vicenza and Veneto Banca
Banca Popolare di Vicenza and Veneto Banca, race against time
FROM THE ADVISE ONLY BLOG - Two of the most troubled banks in the Veneto region are fighting against time to convince small shareholders to accept the proposal to recover from losses. Otherwise, no state intervention and risk of bail-in.…
Veneto Banca and Popolare Vicenza: the news for small shareholders
The boards of directors of the two banks have given the go-ahead to two 2 million euro solidarity funds. The funds will become active only after the positive outcome of the ongoing transaction offer: so far, however, only 30% of Popolare di Vicenza shareholders…
Popolare Vicenza launches guaranteed bonds for 3 billion
The bonds, with state guarantee and maturing on 3 February 2020, have a coupon of 0,5% - A similar operation will concern Veneto Banca this week - Meanwhile, the ECB's response on the capital increase is awaited
Pop Vicenza, shareholders: ok liability action against former top management
The proposal was approved with 99,9% of the votes in favor - Many have asked the bank to return the money invested.
Pop Vicenza: CEO Iorio resigns, Viola arrives
Iorio, who also held the position of general manager, had been in office since 2015 and had led the bank through the reorganization and restructuring supported by the Atlante fund - The board of directors will meet on December XNUMX to designate the…
Banca Pop Vicenza: one billion for businesses in the North East
Banca Popolare di Vicenza launches the "Let's start from here" project, an initiative aimed at companies in the North East and aimed at relaunching the economic fabric of the area - through different types of financing, the institute allows companies to innovate,…
Pop Vicenza, Atlas: no stew
The president of Quaestio Sgr, Alessandro Penati, assures in a letter to the shareholders' meeting of the Veneto institute that "Atlante is ready to support the recovery and relaunch of the bank" - "No to fancy financial operations" - "Merger with…
Pop Vicenza, the ECB unveils the list of 20 two-faced partners
They received loans and bought shares: about twenty members of the Veneto institute who obtained loans for a total of 274 million and owned over 4,25 million shares for a value of 265 million euros.
Veneto Banca: flop increase, Atlante arrives
On the eve of the end of the offer period under option and pre-emption to current shareholders, the amount covered would be "around 1%" of the total - The situation for the Banco Popolare increase is very different.
Banca Pop Vicenza applies for listing on the Stock Exchange
The request was forwarded to Borsa Italiana - Consob, on the other hand, the request for approval of the prospectus relating to the public offer for the subscription and listing of the shares.
Veneto Banca and Pop Vicenza in deep red
The former filed a loss balance of 882 million euros, while the latter expanded the red in 2015 to over 1,4 billion.