DOCSLIB.ORG

Report and Financial Statements Consolidated 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Report and Financial Statements Consolidated 2017 REPORT AND FINANCIAL STATEMENTS CONSOLIDATED 2017 Drawn up by the Parent company B A N C A S E L L A H O L D I N G 1 Banca Sella Group 2017 Annual Report and Consolidated Financial Statements REPORT ON OPERATIONS Contents Map of the Group at 31 December 2017 .................................................................................................................................. 3 Corporate Officers of the Parent Company .......................................................................................................................... 4 Report on Consolidated Operations ..........................................................................................................................................6 Schedules from the Consolidated Financial Statements at 31 December 2017 ................................................... 114 Notes to the Consolidated Financial Statements .............................................................................................................. 124 Part A – Accounting Policies ...................................................................................................................................................... 125 Part B – Information on the Consolidated Balance Sheet Assets............................................................................. 177 Part B – Information on the Consolidated Balance Sheet Liabilities ....................................................................... 215 Part C – Information on the consolidated income statement .....................................................................................235 Part D – Consolidated Comprehensive Income ............................................................................................................... 259 Part E – Information on risks and related hedging policies........................................................................................ 261 Part F – Information on consolidated equity................................................................................... ..................................332 Part G – Aggregation Operations Regarding Companies Or Business Lines.....................................................343 Part H – Transactions with related parties.................................................................................... ..................................... 347 Part I – Payment Agreements Based On Own Equity Instruments......................................................................... 351 Part L – Segment information ................................................................................................................................................. 352 Report of the Board of Statutory Auditors ........................................................................................................................356 Independent Auditors’ Report ................................................................................................................................................. 361 Annexed to the Financial Statements ................................................................................................................................... 369 Note: Any lack of squaring between the figures presented is entirely due to rounding. 2 Banca Sella Group 2017 Annual Report and Consolidated Financial Statements REPORT ON OPERATIONS Map of the Group at 31 December 2017 Other fully consolidated companies: Investee companies consolidated at Net Equity: Finanziaria 2010 S.p.A. Martin Maurel Sella Monaco S.A.M (transferred on 3 January Miret S.A. 2018) Sella Synergy India P.LTD HI-MTF Sim S.p.A Mars 2600 S.r.l. (special purpose vehicle for Group securitisation S.C.P. VDP 1 transactions) Enersel S.p.A. Sella Capital Management Sgr S.p.A. in liquidation DPixel S.r.l. 3 Banca Sella Group 2017 Annual Report and Consolidated Financial Statements REPORT ON OPERATIONS Corporate Officers of the Parent Company BOARD OF DIRECTORS In office up to the approval of the 2018 financial statements Chairman Maurizio Sella Deputy Chairman Sebastiano Sella “ “ Giacomo Sella Honorary Deputy Chairman1 Franco Sella Chief Executive Officer Pietro Sella Director Francesca Arnaboldi “ Mario Bonzano “ Franco Cavalieri “ Massimo Condinanzi “ Jean Paul Fitoussi “ Giovanna Nicodano “ Giovanni Petrella “ Ernesto Rizzetti “ Caterina Sella “ Federico Sella RISK COMMITTEE Member - Chairman Giovanni Petrella “ Francesca Arnaboldi “ Mario Bonzano REMUNERATION COMMITTEE Member - Chairman Mario Bonzano “ Jean Paul Fitoussi “ Francesca Arnaboldi APPOINTMENTS COMMITTEE Member - Chairman Mario Bonzano “ Maurizio Sella “ Giovanni Petrella 1 the Honorary Deputy Chairman is not a member of the Board of Directors. 4 Banca Sella Group 2017 Annual Report and Consolidated Financial Statements REPORT ON OPERATIONS BOARD OF STATUTORY AUDITORS In office up to the approval of the 2017 financial statements Regular Auditor - Chairman Pierluigi Benigno “ “ Gianluca Cinti “ “ Daniele Frè Alternate Auditor Riccardo Foglia Taverna “ “ Pier Angelo Ogliaro GENERAL MANAGEMENT General Manager Pietro Sella Co-General Manager Attilio Viola ACCOUNTING FIRM Deloitte & Touche S.p.A. 5 Banca Sella Group 2017 Annual Report and Consolidated Financial Statements Report on Consolidated Operations 6 Banca Sella Group 2017 Annual Report and Consolidated Financial Statements REPORT ON OPERATIONS I. Banca Sella Group – Main figures and indicators Moody’s Investor Service assigned Banca Sella Holding the following ratings: Rating - Moody's Long-term rating for deposits Baa3 Prospects Negative Short-term rating for deposits P-3 According to Moody’s, the negative outlook for the long-term deposits rating reflects the likelihood that the stock of existing liabilities eligible for bail-ins will continue to decline over time, resulting in an increase in loss given failure. DBRS assigned Banca Sella Holding the following ratings: Rating - DBRS Long-term rating BBB (low) Short-term rating R-2 (middle) Trend Stable DBRS assigned Banca Sella the following ratings: Rating - DBRS Long-term rating BBB (low) Short-term rating R-2 (middle) Trend Stable Staff and Branches (at year end) 2017 2016 2015 2014 2013 2012 2011 Employees of banking group 4,217 4,242 4,253 4,117 4,001 4,100 4,121 Employees of other companies 23 22 51 44 41 42 44 Total employees of Banca Sella Group 4,240 4,264 4,304 4,161 4,042 4,142 4,165 7 Banca Sella Group 2017 Annual Report and Consolidated Financial Statements REPORT ON OPERATIONS Branches in Italy and abroad 297 300 304 304 304 332 334 Financial advisors authorised to make off-site sales 363 359 356 331 295 292 281 Banca Sella Group Summary Data (in thousands of euro) Changes BALANCE SHEET DATA 31/12/2017 31/12/2016 absolute % Total assets 13,797,060.1 13,298,375.6 498,684.5 3.7% Financial assets (1) 2,439,515.6 2,633,322.3 (193,806.7) -7.4% Cash loans, exclusive of repurchase agreements receivable 7,887,006.1 7,802,138.6 84,867.5 1.1% repurchase agreements receivable 126,989.6 103,381.3 23,608.3 22.8% Total cash loans (2) 8,013,995.6 7,905,519.9 108,475.8 1.4% Guarantees issued 198,639.0 205,423.6 (6,784.6) -3.3% Equity investments 2,475.1 12,169.9 (9,694.8) -79.7% Non-current assets and asset groups held for sale 10,695.8 - 10,695.8 100.0% Tangible and intangible fixed assets 338,422.4 288,711.1 49,711.3 17.2% Direct deposits, exclusive of repurchase agreements payable 10,988,696.6 10,969,997.0 18,699.6 0.2% repurchase agreements payable 19,286.0 12,278.1 7,007.9 57.1% Total direct deposits (3) 11,007,982.6 10,982,275.1 25,707.5 0.2% Direct deposits from credit institutions 48,573.0 84,154.6 (35,581.6) -42.3% Indirect deposits valued at market prices 24,194,090.6 22,108,047.5 2,086,043.1 9.4% Global deposits valued at market prices (4) 35,250,646.2 33,174,306.0 2,076,340.2 6.3% Global deposits valued at market prices exclusive of Banca 35,238,150.4 33,174,306.0 2,063,844.4 6.2% Sella Holding repurchase agreements payable (4) Common Equity Tier 1 (CET 1) 931,618.4 900,789.6 30,828.8 3.4% Additional Tier 1 capital (AT 1) 17,853.2 10,329.4 7,523.8 72.8% Tier 2 (T2) 152,689.5 131,481.2 21,208.3 16.1% Total own funds 1,102,161.1 1,042,600.2 59,560.9 5.7% Changes RECLASSIFIED ECONOMIC DATA (5) 31/12/2017 31/12/2016 absolute % Net interest income 226,296.4 241,739.8 (15,443.4) -6.4% Gross revenues from services 419,875.5 376,820.6 43,054.9 11.4% Fee expenses (112,417.4) (102,264.6) (10,152.8) 9.9% Net revenues from services (net of fee expenses) (6) 307,458.2 274,556.0 32,902.1 12.0% Net banking income 533,754.6 516,295.8 17,458.7 3.4% Operating costs net of recovery of stamp duties and other (402,471.8) (390,745.7) (11,726.2) 3.0% taxes (7) Operating profit/loss 131,282.7 125,550.2 5,732.6 4.6% Net value adjustments for impairment losses (47,814.4) (82,029.8) 34,215.4 -41.7% Other economic items (9,684.5) 56,677.0 (66,361.5) -82.9% Profit (loss) for the period pertaining to Parent Company 52,204.6 79,563.1 (27,358.5) -34.4% Profit (loss) for the period pertaining to minority interests 5,730.5 14,426.8 (8,696.3) -60.3% (1) The aggregate represents the sum of the following items in the Balance Sheet Assets: item 20 "financial assets held for trading", item 40 “financial assets available for sale" and item 50 "financial assets held to maturity"; (2) Represents item 70 of the Balance Sheet assets, "due from customers" and includes net bad loans; (3) The aggregate represents the sum of the following Balance Sheet liabilities items: item 20 “due to customers”
Load more

Recommended publications
  • BANCA SELLA S.P.A. (Incorporated with Limited Liability Under the Laws of the Republic of Italy) €1,000,000,000 Euro Medium Term Note Programme
    Base Prospectus BANCA SELLA S.p.A. (incorporated with limited liability under the laws of the Republic of Italy) €1,000,000,000 Euro Medium Term Note Programme This document has been approved as a base prospectus (the “Base Prospectus”) issued in compliance with Directive 2003/71/EC (as amended, to the extent such amendments have been implemented in the relevant Member State of the European Economic Area, the “Prospectus Directive”) by the Commission de Surveillance du Secteur Financier (the “CSSF”) in its capacity as competent authority under the Loi relative aux prospectus pour valeurs mobilières dated 10 July 2005 which implements the Prospectus Directive in Luxembourg (the “Luxembourg Prospectus Law”). Application has been made by Banca Sella S.p.A. (the “Issuer”) for notes (“Notes”) issued under the €1,000,000,000 Euro Medium Term Note Programme (the “Programme”) described in this Base Prospectus during the period of twelve months after the date hereof, being the approval date of this Base Prospectus, to be listed on the official list and admitted to trading on the regulated market of the Luxembourg Stock Exchange, which is a regulated market for the purposes of the Markets in Financial Instruments Directive 2004/39/EC (each such regulated market being a “Regulated Market”). The Programme also allows for Notes to be unlisted or to be admitted to listing, trading and/or quotation by such other or further competent authorities, stock exchanges and/or quotation systems as may be agreed with the Issuer. There are certain risks relating to the Issuer and the Notes which potential investors should ensure they fully understand.
    [Show full text]
  • Prospetto Informativo
    PROSPETTO INFORMATIVO Relativo all’offerta in opzione agli azionisti di massimo n. 330.600 azioni ordinarie della Banca Popolare Sant’Angelo S.c.p.A. (con “Bonus Share”) e successiva offerta ai terzi delle eventuali azioni rimaste inoptate Emittente e soggetto incaricato della raccolta delle sottoscrizioni: Banca Popolare Sant’Angelo S.c.p.A. Prospetto informativo depositato presso la CONSOB in data 28/09/2009 in conformità alla nota di comunicazione dell’avvenuto rilascio dell’autorizzazione da parte della CONSOB stessa del giorno 22/09/2009 prot. n. 9083160 e messo a disposizione del pubblico presso: • la sede sociale della Banca Popolare Sant’Angelo S.c.p.A. in Corso Vittorio Emanuele 10, 92027 Licata; • tutti gli sportelli della Banca Popolare Sant’Angelo S.c.p.A.; • il sito Internet www.bancasantangelo.com. L’adempimento di pubblicazione del presente Prospetto Informativo non comporta alcun giudizio della CONSOB sull’opportunità dell’investimento proposto e sul merito dei dati e delle notizie allo stesso relativi. Prospetto Informativo Banca Popolare Sant’Angelo S.c.p.A. AVVERTENZA Le Azioni oggetto dell’Offerta presentano gli elementi di rischio propri di un investimento in strumenti finanziari non quotati in un mercato regolamentato, per i quali potrebbero insorgere difficoltà di disinvestimento. Per difficoltà di disinvestimento si intende che i sottoscrittori potrebbero avere difficoltà nel negoziare gli strumenti finanziari oggetto della presente Offerta, in quanto le richieste di vendita potrebbero non trovare adeguate contropartite. 1 Prospetto Informativo Banca Popolare Sant’Angelo S.c.p.A. INDICE GLOSSARIO DELLE PRINCIPALI DEFINIZIONI ........................................................................................ 7 NOTA DI SINTESI ......................................................................................................................................... 9 Avvertenze ................................................................................................................................................... 9 A.
    [Show full text]
  • Intesa Sanpaolo Spa
    EMEA Issuer Profile 11 February 2021 Intesa Sanpaolo SpA Senior Outlook Unsecured William Hahn Moody’s Baa1 Negative Credit Research +44 20 7597 8355 S&P BBB Negative [email protected] Fitch BBB- Stable Source: Moody’s, S&P and Fitch Background and ownership Intesa Sanpaolo SpA (‘ISP’) was formed through the merger of Banca Intesa and Intesa – Key Data Sanpaolo IMI in January 2007. In 2018, Intesa announced its intention to merge with its investment-banking subsidiary Banca IMI by incorporation, which was completed in July FY20 2020. In keeping with the bank’s articulated growth strategy, Intesa made a bid for Total Assets (€bn) 1,002 domestic rival and Italy’s fifth largest bank, UBI Banca, in early 2020 and acquired full control in late-July 2020. The merger into the parent company is expected to be finalised Loan Book (€bn) 461.5 by 2Q21. With total assets of €1tr at end-2020, Intesa has become the largest banking group in Italy, ahead of the more internationally active UniCredit group. Loans to Deposits (%) 87.9 Cost to Income (%) 52.2 ISP’s activities are predominantly domestically focused where it is the market leader in retail banking, corporate banking and wealth management, with domestic market shares Net Profit (€m) 3,277 (incl. UBI) of 21% in customer loans, 22% in deposits, 25% in asset management and 24% in pension funds. ISP has also developed a sound retail banking presence in Central LCR (%) >100 and Eastern Europe (CEE) and the Middle East and North Africa (MENA) with total assets FL CET1 (%) 15.4 and lending activities making up 6% and 8.4% of the group’s total respectively.
    [Show full text]
  • FINE-TUNED BNP PARIBAS EXCELS at the BUSINESS of BANKING BNP Paribas Is That Rarity: a Large Bank Actually Delivering on Its Promises to Stakeholders
    Reprinted from July 2016 www.euromoney.com WORLD’S BEST BANK BNP PARIBAS EXCELS AT THE BUSINESS OF BANKING World’s best bank Reprinted from July 2016 Copyright© Euromoney magazine www.euromoney.com WORLD’S BEST BANK FINE-TUNED BNP PARIBAS EXCELS AT THE BUSINESS OF BANKING BNP Paribas is that rarity: a large bank actually delivering on its promises to stakeholders. It is producing better returns even than many of the US banks, despite being anchored in a low-growth home region, building capital and winning customers – all while proving the benefits of a diversified business model. Its cadre of loyal, long-serving senior executives look to have got the strategy right: staying the course in Asia and the US and running global customer franchises, but only in the select services it excels at By: Peter Lee Illustration: Jeff Wack eset by weak profitability, negative interest rates and Its third division, international financial services, includes banking low growth in their home markets, European banks in the US, Latin America and Asia, as well as specialist business such are losing out to US rivals that restructured and as consumer finance, asset and wealth management and insurance. recapitalized quickly after the global financial crisis At a time when peers are still shrinking, BNP Paribas is growing. and whose home economy has enjoyed a much more While new and uncertain management teams struggle to get back Brobust recovery since. to basics, the technicians at BNP Paribas embrace geographic and In April, the European Banking Authority published its latest update business diversity. Critics see a large bank running on six engines in on the vulnerabilities of the 154 biggest European banks and noted a the age of the monoplane.
    [Show full text]
  • Annual Report
    ANNUAL REPORT 2007 121st FINANCIAL YEAR SELLA HOLDING BANCA) SELLA ER M FOR ( Joint Stock Company Head Office in Biella – Share Capital and Reserves € 448.757.834 Member of the Deposit Guarantee Scheme Registered on the Banks and Banking Groups Roll Tax and VAT number 01709430027 13900 Biella (Italy) – via Italia, 2 Tel. 015.35011 – Telefax 015.351767 – Swift SELB IT 22 Web site www.gruppobancasella.it This volume has been printed on ecological recycled paper This volume has been printed on ecological recycled Insert: photographs from the Fondazione Sella archive Vittorio Sella, A crevasse on the Gabelhorn glacier, August 1, 1887 Vittorio Sella, Mischabelhörner seen from the North summit of Alphubel, August 3, 1887 Vittorio Sella, Lower summit of Monte Rosa in the direction of Macugnaga from the summit of Dufourspitze, August 11, 1887 Vittorio Sella, Cervino and Monte Rosa seen from somewhere near the Colle delle Grandes Murailles, September 18, 1887 CONTENTS BOARD OF DIRECTORS 7 BOARD OF STATUTORY AUDITORS 7 CHart OF BANCA SELLA GROUP 8 TERRITORIAL ORGANISATION OF BANCA SELLA GROUP 10 CORRESPONDENT BANKS FOR BANCA SELLA HOLDING 21 SHAREHOLDERS’ MEETING – NOTICE OF MEETING 23 BOARD OF DIRECTORS’ ANNUAL REPORT 25 Rating . 27 Financial highlights . 28 Alternative performance indicators follows . 29 Macroeconomic scenario . 30 Strategic issues and state of progress of three-year strategic plan . 33 Operating result . 34 Trade policies . 38 Operating performance in main areas of activity . 42 Operating structure . 47 Outlook . 50 Significant events occurred after the close of the financial year . 52 Own shares and shares of the parent company . 52 Equity investments and dealings with Group companies .
    [Show full text]
  • Rome, 30 November 2019 Identification of the Unicredit
    Rome, 30 November 2019 Identification of the UniCredit, Intesa Sanpaolo, Banco BPM and Monte dei Paschi di Siena banking groups as other systemically important institutions authorized to operate in Italy The Bank of Italy has identified the UniCredit, Intesa Sanpaolo, Banco BPM and Monte dei Paschi di Siena banking groups as other systemically important institutions (O-SIIs) authorized to operate in Italy in 2020. Compared with last year, the Monte dei Paschi di Siena group has returned to O-SII status. UniCredit, Intesa Sanpaolo, Banco BPM and Monte dei Paschi di Siena will have to maintain a capital buffer of 1.00, 0.75, 0.25 and 0.25 per cent, respectively, of their total risk-weighted exposure, to be achieved according to the transitional periods shown in Table 1. Table 1 Transitional period applicable to the O-SII buffers (per cent) From From From From Banking group 1 Jan. 2019 1 Jan. 2020 1 Jan. 2021 1 Jan. 2022 UniCredit 0.50 0.75 1.00 1.00 Intesa Sanpaolo 0.38 0.56 0.75 0.75 Banco BPM 0.06 0.13 0.19 0.25 Monte dei Paschi di Siena - 0. 13 0. 19 0.25 The decision was taken pursuant to Bank of Italy Circular No 285/2013 (prudential regulations for banks), which implements Directive 2013/36/EU and specifies the criteria on which the methodology for identifying O-SIIs is based. The assessment was conducted in accordance with the European Banking Authority Guidelines (EBA/GL/2014/10), which set out the criteria and data required to identify O-SIIs in EU jurisdictions.
    [Show full text]
  • SANPAOLO IMI S.P.A. Assemblea Straordinaria Del 30 Giugno 2004 Pag
    SANPAOLO IMI S.p.A. Assemblea Straordinaria del 30 giugno 2004 Pag. 1 ELENCO PARTECIPANTI/AZIONISTI NOMINATIVO AZIONISTA Azioni Ordinarie Azioni Privilegiate ASSENZE ALLE VOTAZIONI DELEGANTI E RAPPRESENTATI (uguale X) Rappresentate Dettaglio Rappresentate Dettaglio 1 2 ABRARDO GIOVANNI BATTISTA 10 10 - X ABRIANI NICCOLO' 2 - - - PER DELEGA DI ASSOGESTIONI 2 AGLIALORO GIUSEPPE 1.350 1.350 - - ALEMANNO GUIDO 1.050 1.050 X X ANTONINI BERNARDO 5.000 5.000 - - ARNELLO FRANCESCO 1 1 - - BARIOGLIO MARCO 250 250 - - BECHERE PIETRO MARIA 1.000 1.000 - - BELTRAMO ELENA 7.740.076 - - - PER DELEGA DI NAAG MISSION FOUNDATION INC. 1.700 IUOE LOCAL 4 PENSION FUND 3.100 DIA INTL LSV MM 134.700 FAIRFAX COUNTY EMPLOYEES RETIREMENT SYSTEM 25.700 OVERNITE COMPANY MASTER RETIREMENT TRUST 31.327 CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM 1.477.219 BBH FOR JAPAN TRUSTEE SERV.BK LTD RE STB VA EUROPE EQUITY FUND (FOR ELIGIBLE INST.INVS) 14.177 VAN KAMPEN INTERNATIONAL ADVANTAGE FUND 15.035 THE MASTER TRUST BANK OF JAPAN LTD 481.319 BOMBARDIER OECHSLE FOND. (J.A.) 974 MARITIME LIFE INTERNATIONAL EQUITY FUND 18.200 LSV INTERNATIONAL VALUE EQUITY TRUST 73.100 CC&L ARROWSTREET EAFE EQUITY 149.691 CREF GLOBAL EQUITIES FUND 20.000 COLLEGE RETIREMENT EQUITIES FUND 11.000 TIAA CREF INSTITUTIONAL INTERNATIONAL 65.787 TIAA CREF INTERNATIONAL EQUITY FUND 39.067 TIAA CREF INSTITUTIONAL INTERNATIONAL EQUITY INDEX FUND 10.422 TIAA CREF LIFE INTERNATIONAL EQUITY FUND 6.251 MTDL RE: AQUILA EUROPEAN EQUITY INDEX FUND 8.605 BARCLAYS GLOBAL INVESTORS LTD RE: AQUILA LIFE EUR. EQUITY INDEX FUND 355.964 BGI RE: AQUILA LIFE MULTINATIONAL LOCAL EUROPEAN I NDEX FUND 199.340 NEW MEXICO STATE INVESTMENT COUNCIL 716 FUNDS SA RE: BOSTON COMPANY - MELLON FINANCIAL CE NTER 20.353 JPMB (I) RE IO UNIVERSAL PLC EUROPE (EX UK) 57.547 PNC BANK GLOBAL OMNIBUS 2.700 JP MORGAN BANK AS DIRECTED TRUSTEE FOR FT WORTH RE TIREMENT PLAN 5.921 BELEGGINGSFONDS BELCENA EQUITIES RE 22.200 SANPAOLO IMI S.p.A.
    [Show full text]
  • High-Quality Service Is Key Differentiator for European Banks 2018 Greenwich Leaders: European Large Corporate Banking and Cash Management
    High-Quality Service is Key Differentiator for European Banks 2018 Greenwich Leaders: European Large Corporate Banking and Cash Management Q1 2018 After weathering the chaos of the financial crisis and the subsequent restructuring of the European banking industry, Europe’s largest companies are enjoying a welcome phase of stability in their banking relationships. Credit is abundant (at least for big companies with good credit ratings), service is good and getting better, and banks are getting easier to work with. Aside from European corporates, the primary beneficiaries of this new stability are the big banks that already count many of Europe’s largest companies as clients. At the top of that list sits BNP Paribas, which is used for corporate banking by 65% of Europe’s largest companies. HSBC is next at 56%, followed by Deutsche Bank at 43%, UniCredit at 38% and Citi at 37%. These banks are the 2018 Greenwich Share Leaders℠ in European Top-Tier Large Corporate Banking. Greenwich Share Leaders — 2018 GREENWICH ASSOCIATES Greenwich Share20 1Leade8r European Top-Tier Large Corporate Banking Market Penetration Eurozone Top-Tier Large Corporate Banking Market Penetration Bank Market Penetration Statistical Rank Bank Market Penetration Statistical Rank BNP Paribas 1 BNP Paribas 1 HSBC 2 HSBC 2 Deutsche Bank 3 UniCredit 3T UniCredit 4T Deutsche Bank 3T Citi 4T Commerzbank 5T ING Bank 5T Note: Based on 576 respondents from top-tier companies. Note: Based on 360 respondents from top-tier companies. European Top-Tier Large Corporate Eurozone Top-Tier Large Corporate Cash Management Market Penetration Cash Management Market Penetration Bank Market Penetration Statistical Rank Bank Market Penetration Statistical Rank BNP Paribas ¡ 1 BNP Paribas 1 HSBC 2 HSBC 2T Deutsche Bank 3 UniCredit 2T Citi 4T Deutsche Bank 4 UniCredit 4T Commerzbank 5T ING Bank 5T Note: Based on 605 respondents from top-tier companies.
    [Show full text]
  • Nexi S.P.A. Successfully Prices the Offer of €500 Million Senior Unsecured Equity-Linked Bonds Due 2027
    NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN, OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS NOT A PROSPECTUS AND NOT AN OFFER OF ANY SECURITIES IN ANY JURISDICTION, INCLUDING IN OR INTO THE UNITED STATES, SOUTH AFRICA, AUSTRALIA OR JAPAN. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT TO INVEST IN SUCH SECURITIES WHATSOEVER IN ANY JURISDICTION (SEE "IMPORTANT NOTICE" BELOW). THE BONDS MAY NOT BE OFFERED OR SOLD TO RETAIL INVESTORS IN THE EUROPEAN ECONOMIC AREA, THE UNITED KINGDOM OR ELSEWHERE. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. Nexi S.p.A. successfully prices the offer of €500 million senior unsecured equity-linked Bonds due 2027 Milan, 17 April 2020 – Nexi S.p.A., a società per azioni incorporated under the laws of Italy ("Nexi" or the "Issuer"), has successfully priced its offering of €500 million ("Offering") of senior unsecured equity-linked bonds due 2027 (the "Bonds"). This bond issue, the largest equity-linked placement on the Italian market since 2017, allows Nexi to extend the average life of its debt, lower its average cost and further strengthens its liquidity position, also considering the planned acquisition of the merchant acquiring activities of the Intesa Sanpaolo Group, announced in December 2019. The Bonds will pay a coupon of 1.75% per annum, payable semi-annually in arrear. The conversion price will be €19.47, a premium of 50% above the Reference Share Price of €12.98, which is equal to the placement price of the Ordinary Shares in the Concurrent Equity Offering (as defined and further described below).
    [Show full text]
  • Corsa Ai Veri Paperoni Cuna Donna
    30 MILANO FINANZA 26 Luglio 2014 PRIVATE BANKING Le strutture più blasonate stanno tornando a concentrarsi sui super-ricchi, il cui numero cresce anche con la crisi. Dalle banche di Paola Valentini estere ai family office italiani, ecco chi cura i clienti di primissima fascia hiedere alle banche di private banking qual è la soglia mi- nima di accesso è come chiedere l’età a Corsa ai veri Paperoni Cuna donna. Difficilmente si ot- terrà una risposta. Per questo i numeri precisi del settore non LE 29 PRIVATE BANK ESTERE ATTIVE IN ITALIA I PRINCIPALI FAMILY OFFICE IN ITALIA sono noti. L’identikit dei prota- SVIZZERA (12): gonisti invece sì. Benché non Ubs Italia, Crédit Suisse Italy, Pictet & Cie Europe SA, ARGOS SPA manchino eccezioni tra le bou- Banca Albertini Syz, Banca Arner, BSI SA Europe, Banca del Ceresio tique italiane, per tradizione (Ceresio Sim), Banque Morval (Morval Sim), Kairos Julius Baer Sim, CORDUSIO SIM ADVISORY & FAMILY OFFICE SPA sono le private bank più foca- Merrill Lynch, FinPromotion (Alisei Sim), Banca del Sempione (Sempione Sim) CORPORATE FAMILY OFFICE SIM SPA lizzate sui patrimoni top sono DE AGOSTINI SPA USA (3): JP Morgan, Goldman Sachs, Advanced Capital Sgr quelle estere. Grazie alla loro FAMILY ADVISORY SIM SPA SELLA PARTNERS esperienza internazionale che FRANCIA (3): Bnp Paribas (Bnl), Credit Agricole (Cariparma FOUR PARTNERS ADVISORY SIM comprende anche l’investment CariSpezia-Friuladria), LCF Rothschild (Edmond De Rothshild Sim/Sgr) GLOBAL WEALTH ADVISORY SIM SPA bank, servizio che i grandi im- prenditori gradiscono avere REGNO UNITO (4): Schroders (Schroders Italy Sim), MA.IS. SPA a disposizione.
    [Show full text]
  • Sistema Gestielle Best Selection
    OFFERTA AL PUBBLICO DI QUOTE DEI FONDI COMUNI DI INVESTIMENTO MOBILIARE APERTI DI DIRITTO ITALIANO ARMONIZZATI ALLA DIRETTIVA 2009/65/CE APPARTENENTI AL SISTEMA GESTIELLE BEST SELECTION Si raccomanda la lettura del Prospetto – costituito dalla Parte I (Caratteristiche del Fondo e modalità di partecipazione), dalla Parte II (illustrazione dei dati periodici di rischio/rendimento e costi del Fondo) – messo gratuitamente a disposizione dell’ investitore su richiesta del medesimo per le informazioni di dettaglio. Il regolamento di gestione del fondo è messo gratuitamente a disposizione dell’investitore su richiesta del medesimo con le modalità previste nel paragrafo “ulteriore documentazione disponibile” della Parte I. Il Prospetto d’offerta è volto ad illustrare all’investitore le principali caratteristiche dell’investimento proposto. DATA DI DEPOSITO IN CONSOB: 12/03/2018 DATA DI VALIDITA’ DEL PROSPETTO: 13/03/2018 La pubblicazione del Prospetto non comporta alcun giudizio della Consob sull’opportunità dell’investimento proposto. Avvertenza: la partecipazione al fondo comune di investimento è disciplinata dal Regolamento di gestione. Avvertenza: il Prospetto non costituisce un’offerta o un invito in alcuna giurisdizione nella quale detti offerta o invito non siano legali e nella quale la persona che venga in possesso del Prospetto non abbia i requisiti necessari per aderirvi. In nessuna circostanza il Modulo di sottoscrizione potrà essere utilizzato se non nelle giurisdizioni in cui detti offerta o invito possano essere presentati e tale Modulo possa essere legittimamente utilizzato . PARTE I DEL PROSPETTO SISTEMA GESTIELLE BEST SELECTION CARATTERISTICHE DEL FONDO E MODALITÀ DI PARTECIPAZIONE DATA DI DEPOSITO IN CONSOB: 12/03/2018 DATA DI VALIDITA’ DELLA PARTE I DEL PROSPETTO: 13/03/2018 A) INFORMAZIONI GENERALI 1.
    [Show full text]
  • Per Approfondire, Clicca
    Servizi Fiduciari Da oltre cinquant’anni offriamo l’amministrazione fiduciaria di beni in Italia e all’estero con serietà e professionalità. alla Persona Una struttura solida e indipendente, formata da professionisti e all’Impresa della materia che in modo dinamico percepiscono e anticipano i cambiamenti. Un partner fedele riconosciuto come riferimento per la propria categoria. Un collaboratore leale e affidabile per gli intermediari e gli operatori del settore. Un family office con un approccio internazionale per il mercato italiano. Unione Fiduciaria è in grado di proporre alla propria clientela AreaSoftware Servizi Fiduciari alla Persona e all’Impresa qualsiasi applicazione, progetto o soluzione “chiavi in mano”, SEDEe DIServizi MILANO Referente: sia standard che personalizzata, collaborando con il cliente LorenzoInformatici Sacchi all’analisi ed allo sviluppo di specifiche richieste Direttore Area Giovanna Elmi per la realizzazione di sistemi informativi gestionali e contabili Vice Direttore Area di Front Office, Middle Office, Back Office, auditing, Segreteria: tel. 02.72 422.202 - 251- fax 02.72 422.260controllo e vigilanza per i diversi intermediari finanziari: Banche, UFFICIO DI ROMA Referente: Sgr, Sim, Fiduciarie, ecc. Marco Finocchi Finn Responsabile Fornisce altresì servizi “all inclusive” dove, accanto alla fornitura Segreteria: tel. 06.420338.1 - fax 06.420338.28 di servizi e prodotti informatici propone - in collaborazione [email protected] [email protected] con i propri uffici amministrativi - l’outsourcing completo di tutte www.unionefiduciaria.it le attività contabili ed amministrative tipiche dei back office Unione Fiduciaria, con il suo team di specialisti inseriti Servizi e degli uffici contabili di Fondi, Gestioni Patrimoniali, nell’Area Consulenza Banche ed Intermediari Finanziari, è in grado scheda in de 5.indd 7 Gestioni Fiduciarie e Società di Gestione del Risparmio.
    [Show full text]