DOCSLIB.ORG

Unicredit Ns Eng 08

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Unicredit Ns Eng 08 THIS DOCUMENT IS A TRANSLATION OF THE ITALIAN VERSION OF THE SUMMARY NOTE APPROVED BY CONSOB AS COMPETENT HOME MEMBER STATE AUTHORITY AND IS MADE UNDER THE SOLE RESPONSIBILITY OF UNICREDIT S.P.A. Summary Note Prepared in accordance with the regulations adopted by CONSOB with Decision no. 11971 of 14 May 1999, as subsequently amended, and with Article 24 of Commission Regulation (EC) No 809/2004 of 29 April 2004 implementing Directive 2003/71/EC UniCredit S.p.A. Registered office – Via Alessandro Specchi 16, Rome Central Management Office – Piazza Cordusio, Milan Entered in the Register of Banks and Parent Company of the UniCredit Banking Group, entered in the Register of Banking Groups under no. 02008.1 Rome Trade and Companies Register, Tax Code and VAT No 00348170101 Share capital subscribed and fully paid-up: Euro 12,148,463,316.00 Member of the Interbank Deposit Protection Fund and the National Deposit Guarantee Fund Summary Note filed with CONSOB on 4 January 2012, pursuant to the notice of approval in a memorandum dated 4 January 2012, file no. 12000920. The publication of the Summary Note does not represent any opinion of CONSOB on the investment opportunity proposed or on the merit of the data and information contained therein. The Summary Note must be read in conjunction with the UniCredit S.p.A. Registration Document filed with CONSOB on 15 December 2011, pursuant to the notice of approval in a memorandum dated 14 December 2011, file no. 11098908, and the Securities Note filed with CONSOB on 4 January 2012, pursuant to the notice of approval in a memorandum dated 4 January 2012, file no. 12000920. The Registration Document, the Securities Note and the Summary Note jointly comprise the Prospectus for the offering and admission to listing of ordinary shares of UniCredit S.p.A. The Summary Note, the Securities Note and the Registration Document are available to the public at the premises of UniCredit S.p.A. in Rome, Via A. Specchi, 16, from the Central Management Office of UniCredit S.p.A. in Milan, Piazza Cordusio, the premises of UniCredit CAIB Poland S.A. in Emilii Plater 53, 00-113 Warsaw, Poland, from Centralny Dom Maklerski Pekao Spolka Akcyjma in ul. Woloska 18, 02-675, Warsaw, Poland, from Bank Pekao S.A. in ul. Grzybowska 53/57, 00-950, Warsaw, Poland, from UniCredit Bank A.G. in Arabellastr. 12, 81925 Munich in Bavaria, Germany, from UniCredit Bank Austria in Julius Tandler Platz 3, A-1090 Vienna, Austria, from Borsa Italiana in Milan, Piazza degli Affari 6, and on the websites of the Issuer at http://www.unicreditgroup.eu and of the Warsaw Stock Exchange (Gielda Papierów Wartościowych w Warszawie SA) at http://www.gpw.com.pl. Summary Note UniCredit S.p.A. CONTENTS DEFINITIONS .................................................................................................................................................. 3 GLOSSARY ...................................................................................................................................................... 9 SUMMARY NOTE ......................................................................................................................................... 13 1 Summary Note UniCredit S.p.A. [THIS PAGE HAS BEEN LEFT BLANK INTENTIONALLY] 2 Summary Note UniCredit S.p.A. DEFINITIONS A list of the most common definitions and terms used in the Summary Note is provided below. Unless specified otherwise, these definitions and terms (stated in singular or plural form) have the meanings indicated below. 2008 Consolidated Reports and The consolidated financial statements of the Group for the financial Financial Statements year ended 31 December 2008, subjected to an audit, together with the report on operations and the report of the External Auditors. 2009 Consolidated Reports and The consolidated financial statements of the Group for the financial Financial Statements year ended 31 December 2009, subjected to an audit, together with the report on operations and the report of the External Auditors. 2010 Consolidated Reports and The consolidated financial statements of the Group for the financial Financial Statements year ended 31 December 2010, subjected to an audit, together with the report on operations and the report of the External Auditors. 2010-2015 Strategic Plan The strategic plan of the UniCredit Group, approved by the Company’s Board of Directors on 14 November 2011 and containing strategic guidelines and operating, financial and capital objectives for 2013 and 2015. 2011 Condensed Interim The interim consolidated financial statements of the Group for the Consolidated Financial Statements period ended 30 September 2011, subjected to a limited audit by the External Auditors. BA or Bank Austria UniCredit Bank Austria AG, having its registered office in Vienna, Austria, formerly named Bank Austria Creditanstalt AG until 27 September 2009. Banca CRT Banca Cassa di Risparmio di Torino S.p.A. Banca d’Italia The central bank of the Republic of Italy. Banco di Sicilia Banco di Sicilia S.p.A. (now merged into UniCredit). Bank Pekao Bank Polska Kasa Opieki S.A. Borsa Italiana Borsa Italiana S.p.A., having its registered office at Piazza degli Affari 6, Milan. Capitalia Capitalia S.p.A. CASHES Convertible and Subordinated Hybrid Equity-linked Securities maturing on 15 December 2050 issued by Bank of New York and exchangeable into UniCredit ordinary shares. Cassamarca Cassamarca – Cassa di Risparmio della Marca Trevigiana S.p.A. 3 Summary Note UniCredit S.p.A. CEE Countries Poland, Russia, Slovakia, Slovenia, Bosnia, Romania, Latvia, Estonia, Lithuania, Ukraine, Kyrgyzstan, Azerbaijan, Kazakhstan, Croatia, Serbia, Bulgaria, Turkey, Czech Republic and Hungary, in which the UniCredit Group operates. Civil Code Royal Decree 262 of 16 March 1942, as subsequently amended and supplemented. Clearstream Clearstream Banking Aktiengesellschaft, with registered office in Frankfurt (Germany), Mergenthalerallee 61, 65760. CONSOB Commissione Nazionale per le Società e la Borsa, having its registered office at Via G. B. Martini 3, Rome. Consolidated Banking Act or TUB Legislative Decree no. 385 of 1 September 1993, as subsequently amended and supplemented. Consolidated Financial Act or TUF Legislative Decree no. 58 of 24 February 1998, as subsequently amended and supplemented. Consolidated Financial Statements The consolidated financial statements of the Group for the financial as at 31 December 2008 year ended 31 December 2008, subjected to an audit by the External Auditors. Consolidated Financial Statements The consolidated financial statements of the Group for the financial as at 31 December 2009 year ended 31 December 2009, subjected to an audit by the External Auditors. Consolidated Financial Statements The consolidated financial statements of the Group for the financial as at 31 December 2010 year ended 31 December 2010, subjected to an audit by the External Auditors. Consolidated Interim Report as at The condensed interim consolidated financial statements, subjected 30 September 2011 to a limited audit, together with the interim report on operations as at 30 September 2011. Corporate By-Laws The corporate by-laws of the Issuer in force as at the Date of the Summary Note. Corporate Governance Code The Corporate Governance Code for listed companies prepared and approved by the Corporate Governance Committee of Borsa Italiana, published in March 2006, as subsequently amended. CRV Cassa di Risparmio di Verona Vicenza Belluno e Ancona Banca S.p.A. Date of the Summary Note The date of publication of the Summary Note. 4 Summary Note UniCredit S.p.A. Directive 2003/71/EC Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading, as amended by Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010. EBA The European Banking Authority established by Regulation (EC) No 1093/2010 of the European Parliament and of the Council of 24 November 2010. European Central Bank or ECB The central bank responsible for the single European currency, the Euro. Its main function is to preserve the purchasing power of the currency and thus maintain price stability in the Eurozone, which comprises the 17 countries of the European Union which have adopted the single currency since 1999. Eurozone The 17 countries of the European Union which use the Euro as their currency. External Auditors KPMG S.p.A., having its registered office at Via Vittor Pisani, 25, Milan, entered in the Special Register of Auditors mentioned in Article 161 of the TUF (Consolidated Financial Act). Article 161 of the TUF, repealed by Article 40 of Legislative Decree no. 39/2010, remains applicable, pursuant to Article 43, paragraph 1 of the said Decree, until the date of coming into force of the regulations of the Ministry of Economy and Finance provided for therein. FinecoBank FinecoBank S.p.A. Group or UniCredit Group UniCredit and its subsidiaries within the meaning of Article 2359 of the Civil Code and Article 93 of the TUF (Consolidated Financial Act). Issuers’ Regulations The regulations approved by CONSOB through Decision no. 11971 of 14 May 1999, as subsequently amended and supplemented. Market Offering The market offering pursuant to Article 2441, paragraph 3 of the Civil Code, of the unexercised Subscription Rights at the end of the Subscription Period. Monte Titoli Monte Titoli S.p.A., having its registered office in Piazza degli Affari 6, Milan. MTA or Electronic Share Market The Electronic Share Market organised and managed by Borsa Italiana. NDS The National Depositary for Securities (KDPW S.A.), with registered office at Książęca 4, 00-498, Warsaw. 5 Summary Note UniCredit S.p.A. New Shares The maximum number 3,859,602,938 of new ordinary shares with no par value issued by the Company in the Offering. Offer Price The price at which each New Share is offered under the scope of the Offering, namely Euro 1.943. Offering The offering of 3,859,602,938 New Shares to shareholders of UniCredit in the ratio of 2 New Shares for every ordinary and/or saving UniCredit share already held.
Load more

Recommended publications
  • Annual Press Conference 2012
    European Investment Bank Annual Press Conference 2012 Annual Press Conference 2012 Financing operations in 2011 Geographical breakdown of finance contracts signed (EUR million) 2011 2007-2011 Amount % Amount % Belgium (BE) 1 333 2.2 7 124 2.2 Bulgaria (BG) 156 0.3 2 008 0.6 Czech Republic (CZ) 1 246 2.0 7 591 2.4 Denmark (DK) 155 0.3 1 552 0.5 Germany (DE) 6 112 10.0 36 312 11.5 Estonia (EE) 183 0.3 1 186 0.4 Ireland (IE) 475 0.8 2 531 0.8 Greece (GR) 958 1.6 7 597 2.4 Spain (ES) 9 079 14.9 44 689 14.1 France (FR) 4 954 8.1 24 927 7.9 Italy (IT) 8 436 13.9 40 553 12.8 Cyprus (CY) 180 0.3 992 0.3 Latvia (LV) 36 0.1 1 316 0.4 Lithuania (LT) 11 0.0 1 257 0.4 Luxembourg (LU) 108 0.2 776 0.2 Hungary (HU) 1 399 2.3 7 772 2.5 Malta (MT) - - 290 0.1 Netherlands (NL) 860 1.4 6 071 1.9 Austria (AT) 2 020 3.3 7 813 2.5 Poland (PL) 5 279 8.7 20 745 6.5 Portugal (PT) 2 095 3.4 13 417 4.2 Romania (RO) 917 1.5 4 088 1.3 Slovenia (SI) 335 0.6 2 138 0.7 Slovakia (SK) 400 0.7 2 367 0.7 Finland (FI) 1 403 2.3 4 872 1.5 Sweden (SE) 708 1.2 6 475 2.0 United Kingdom (GB) 4 782 7.9 23 028 7.3 EFTA (1) 130 0.2 180 0.1 European Union 53 750 88.3 279 667 88.2 of which JESSICA resources 735 852 Enlargement countries 3 451 5.7 17 815 5.6 Eastern Europe, Southern Caucasus, Russia 776 1.3 2 039 0.6 Mediterranean countries 975 1.6 7 846 2.5 ACP/OCT 591 1.0 3701 1.2 South Africa 165 0.3 811 0.3 Asia, Latin America 1 171 1.9 5 074 1.6 Partner countries 7 129 11.7 37 287 11.8 of which budgetary resources 214 1 839 Grand Total 60 880 100.0 316 954 100.0 (1) Financing operations in the members of the European Free Trade Association (EFTA) equivalent to operations in the European Union.
    [Show full text]
  • Download Original Attachment
    2017 IIF Annual Membership Meeting List of Participants 10/04/2017 1 International Fincentre Associates Aberdeen Asset Management Aberdeen Standard Investments Aberdeen Standard Investments Abraaj Capital Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Global Market Abu Dhabi Investment Authority Abu Dhabi Investment Authority Abu Dhabi Investment Authority Abu Dhabi Investment Authority Access Bank Plc Access Bank Plc Access Bank Plc Access Bank Plc Acreditus Aflac Global Investments Aflac Global Investments Aflac International Aflac International AFME Africa Finance Corporation African Export Import Bank Page 1 of 51 2017 IIF Annual Membership Meeting List of Participants 10/04/2017 African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank African Export Import Bank Agricultural Bank of China, New York Branch Agricultural Bank of China, New York Branch AIG AIG AIIB Akbank Akbank Aker International AG Al Ahli Bank of Kuwait K.S.C.P Al Ahli Bank of Kuwait K.S.C.P Al Rajhi Bank Alawwal Bank Alawwal Bank Alawwal Bank Alawwal Bank Alawwal Bank Albaraka Turk Participation Bank Albaraka Turk Participation Bank Albaraka Turk Participation Bank Page 1 of 51 2017 IIF Annual Membership Meeting List of Participants 10/04/2017 Algebris Investments AllianceBernstein L.P.
    [Show full text]
  • Unicredito Italiano S.P.A. Information Memorandum
    UniCredito Italiano S.p.A. Information Memorandum prepared in relation to an intended application for admission to trading on the regulated market operated by the Warsaw Stock Exchange (“WSE”) 13,342,782,900 ordinary shares (“UniCredit Ordinary Shares”) with the nominal value of € 0.50 each of UniCredito Italiano S.p.A. Rome, Italy This information memorandum (“Information Memorandum” or “Memorandum”) has been prepared in relation to an intention of UniCredito Italiano S.p.A. (“UniCredit”, the “Company”) to apply for the admission of all UniCredit Ordinary Shares to trading on the regulated market operated by the WSE. This Information Memorandum has been prepared pursuant to Article 39 Section 1 in conjunction with Article 7 Section 4 item 8 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies dated July 29, 2005 (“Act on Public Offering”), and pursuant to the Ordinance of the Minister of Finance of July 6, 2007 on detailed conditions that should be satisfied by an information memorandum referred to in Article 39 Section 1 and Article 42 Section 1 of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies (“Memorandum Ordinance”). This Information Memorandum has been prepared solely in relation to the intended application for admission of UniCredit Ordinary Shares to trading on the regulated market operated by the WSE. In particular, it has not been published in relation to any offer to sell new or existing shares of UniCredit. UniCredit intends to apply to WSE authorities for the admission of UniCredit Ordinary Shares to trading on the WSE’s main market, so as to have the shares first listed before the end of 2007.
    [Show full text]
  • First FSF Regional Meeting with Central and Eastern European Authorities
    FINANCIAL STABILITY FORUM For immediate release Press release Press enquiries: Basel +(41 61) 280 8188 Ref no: 08/2002E 11 April 2002 First FSF regional meeting with central and eastern European authorities The Financial Stability Forum (FSF) today held its first regional meeting with central and eastern European countries at the European Bank for Reconstruction and Development (EBRD) in London. Senior representatives from finance ministries, central banks, and supervisory and regulatory authorities from 13 FSF member and regional countries attended the meeting. A list of participating institutions is attached. The meeting exchanged views on potential vulnerabilities in financial systems in the current economic situation and noted that financial systems had well withstood recent shocks. They also agreed that the improved outlook for growth is creating a more benign financial stability environment in the period ahead. They noted that appreciating exchange rates in EU accession countries heighten the importance of adequate safeguards in the banking system. Participants also discussed issues raised by recent large corporate failures, and noted that many bear relevance for regional transition economies. They underscored the importance of reinforcing market foundations through sound practices in corporate governance, improved audit quality, and strengthened independence of oversight and enforcement institutions. The meeting also reviewed the focus of ongoing work to strengthen financial systems. These efforts centre on EU accession requirements
    [Show full text]
  • Genius Card Multiservizi Unisun
    Genius Card Multiservizi UniSUN Quali sono le mie esigenze? Avere un prodotto semplice e conveniente, vista l’assenza di costi di emissione e canone mensile grazie allo status di studente, docente o dipendente della Seconda Università degli Studi di Napoli, per gestire in tutta sicurezza le principali esigenze di operatività bancaria, senza la necessità di avere un conto corrente. IL PRODOTTO IN SINTESI A chi è rivolto Agli Studenti e ai dipendenti – docenti e non – della Seconda Università degli Studi di Napoli che siano maggiorenni e residenti, anche a fini valutari, in Italia. Con un unico prodotto, semplice e conveniente Genius Card Multiservizi UniSUN consente di gestire comodamente e con sicurezza le principali operazioni bancarie, con in più la possibilità di accedere ai servizi resi dalla Seconda Università degli Studi di Napoli e al circuito di scontistica presso gli esercenti convenzionati dalla Banca. Come funziona Genius Card Multiservizi UniSUN è una carta prepagata nominativa ricaricabile che consente di prelevare e pagare nei negozi in Italia e all’estero grazie al circuito internazionale MasterCard. La carta è abilitata alla tecnologia contactless che consente di effettuare presso gli esercenti che espongono il marchio MasterCard PAYPASS operazioni di pagamento anche mediante semplice avvicinamento della Carta alle apparecchiature POS. Le operazioni effettuate in tale modalità: • se hanno importo pari o inferiore a 25 euro possono essere effettuate senza digitazione del PIN o firma della memoria di spesa • se hanno importo
    [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]
  • Monte Titoli
    Monte Titoli PARTECIPANTI AL SERVIZIO DI RISCONTRO E RETTIFICA GIORNALIERO X-TRM - 31 maggio 2015 PARTICIPANTS IN THE X-TRM - DAILY MATCHING AND ROUTING SERVICE - 31 st May 2015 CODICE CED CODICE ABI DESCRIZIONE ANAGRAFICA INTERMEDIARIO PARTECIPANTE CED CODE ABI CODE INTERMEDIARY 2331 1003 BANCA D'ITALIA 425 1005 BANCA NAZIONALE DEL LAVORO SPA 339 1010 SANPAOLO BANCO DI NAPOLI 382 1015 BANCO DI SARDEGNA SPA 3319 1025 INTESA SANPAOLO SPA 357 1030 BANCA MONTE DEI PASCHI DI SIENA SPA 1550 2008 UNICREDIT BANCA SPA 564 3011 HIPO ALPE ADRIA BANK SPA 2187 3015 BANCA FINECO SPA 2470 3017 INVEST BANCA SPA 2281 3025 BANCA PROFILO SPA 8664 3030 DEXIA CREDIOP SPA 302 3032 CREDITO EMILIANO SPA 7504 3041 UBS (ITALIA) SPA 4197 3043 BANCA INTERMOBILIARE INV. GESTIONI SPA 1994 3045 BANCA AKROS SPA 3301 3048 BANCA DEL PIEMONTE SPA 303 3051 BARCLAYS BANK PLC 3892 3058 CHEBANCA! 1740 3062 BANCA MEDIOLANUM SPA 1105 3069 INTESA SANPAOLO SPA 547 3075 BANCA GENERALI SPA 4690 3081 UNICREDIT BANK AG 403 3083 IW BANK SPA 644 3084 BANCA CESARE PONTI SPA 560 3087 BANCA FINNAT EURAMERICA SPA 5937 3089 CREDIT SUISSE (ITALY) SPA 580 3102 BANCA ALETTI E C. SPA 308 3104 DEUTSCHE BANK SPA 315 3111 UNIONE DI BANCHE ITALIANE SCPA 2657 3124 BANCA DEL FUCINO SPA 1050 3126 GRUPPO BANCA LEONARDO SPA 3964 3127 UNIPOL BANCA SPA 1210 3138 BANCA REALE 3768 3141 BANCA DI TREVISO S.p.A. 3636 3151 HYPO TIROL BANK AG SUCCURSALE ITALIA 1862 3158 BANCA SISTEMA SPA 1770 3163 STATE STREET BANK S.p.A.
    [Show full text]
  • A Report on the Costs and Benefits of Poland’S Adoption of the Euro
    A Report on the Costs and Benefits of Poland’s Adoption of the Euro Warsaw, March 2004 Edited by: Jakub Borowski Authors: Jakub Borowski Micha∏ Brzoza-Brzezina Anna Czoga∏a Tatiana Fic Adam Kot Tomasz J´drzejowicz Wojciech Mroczek Zbigniew Polaƒski Marek Rozkrut Micha∏ Rubaszek Andrzej S∏awiƒski Robert Woreta Zbigniew ˚ó∏kiewski The authors thank Andrzej Bratkowski, Adam B. Czy˝ewski, Ma∏gorzata Golik, Witold Grostal, Andrzej Rzoƒca, El˝bieta Skrzeszewska-Paczek, Iwona Stefaniak, Piotr Szpunar and Lucyna Sztaba for their numerous and insightful remarks on earlier drafts of this Report. The authors thank professor Michael J. Artis for his excellent assistance with the English language version of the Report. The Report was submitted for publishing in March 2004. Design: Oliwka s.c. Printed by: Drukarnia NBP Published by: National Bank of Poland 00-919 Warszawa, ul. Âwi´tokrzyska 11/21, Poland Phone (+48 22) 653 23 35 Fax (+48 22) 653 13 21 © Copyright Narodowy Bank Polski, 2004 2 National Bank of Poland Table of contents Table of contents Executive Summary . .5 Introduction . .9 1. Conditions for accession to the euro area . .13 2. Risks and costs of introducing the euro . .15 2.1. Loss of monetary policy independence . .15 2.1.1. The effectiveness of the exchange rate adjustment mechanism . .18 2.1.2. Labour market adjustment mechanism . .25 2.1.3. The fiscal adjustment mechanism . .27 2.1.4. Convergence of business cycles . .30 2.1.5. Endogeneity of Optimum Currency Area criteria . .36 2.2. Short-term cost of meeting the inflation convergence criterion . .37 2.3.
    [Show full text]
  • SAP® SOLUTIONS and ACCOUNTING STRATEGIES © Copyright 2007 SAP AG
    SAP Solution in Detail SAP for Banking ACCOUNTING IN BANKS: SAP® SOLUTIONS AND ACCOUNTING STRATEGIES © Copyright 2007 SAP AG. All rights reserved. HTML, XML, XHTML and W3C are trademarks or registered trademarks of W3C®, World Wide Web Consortium, No part of this publication may be reproduced or transmitted in Massachusetts Institute of Technology. any form or for any purpose without the express permission of SAP AG. The information contained herein may be changed Java is a registered trademark of Sun Microsystems, Inc. without prior notice. JavaScript is a registered trademark of Sun Microsystems, Inc., Some software products marketed by SAP AG and its distributors used under license for technology invented and implemented contain proprietary software components of other software by Netscape. vendors. MaxDB is a trademark of MySQL AB, Sweden. Microsoft, Windows, Excel, Outlook, and PowerPoint are registered trademarks of Microsoft Corporation. SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver, Duet, PartnerEdge, and other SAP products and services IBM, DB2, DB2 Universal Database, OS/2, Parallel Sysplex, mentioned herein as well as their respective logos are trademarks MVS/ESA, AIX, S/390, AS/400, OS/390, OS/400, iSeries, pSeries, or registered trademarks of SAP AG in Germany and in several xSeries, zSeries, System i, System i5, System p, System p5, System x, other countries all over the world. All other product and System z, System z9, z/OS, AFP, Intelligent Miner, WebSphere, service names mentioned are the trademarks of their respective Netfinity, Tivoli, Informix, i5/OS, POWER, POWER5, POWER5+, companies. Data contained in this document serves informational OpenPower and PowerPC are trademarks or registered purposes only.
    [Show full text]
  • Merger of Unicredit and Capitalia to Consolidate Italian Footprint and Create the No
    JOINT PRESS RELEASE Merger of UniCredit and Capitalia to consolidate Italian footprint and create the No. 1 Eurozone bank by market capitalization Merger with an exchange ratio of 1.12 new ordinary shares of UniCredit for each ordinary share of Capitalia Key Transaction features: • Consolidates and strengthens position in the Italian market, one of the most attractive in Europe • Significantly enhances main banking segments and distribution channels • Unites complementary branch networks to reach more than 5,000 branches in Italy • Achieves well-balanced geographic and business mix with more than 50% of revenues outside of Italy, confirming the European orientation • Approx. €1.2 billion estimated pre-tax synergies in 2010, of which approx. 68% deriving from lower costs • Pre-tax one-off integration costs estimated at approx. €1.1 billion • Positive financial proposition for all shareholders: - Combined EPS CAGR 2007-2009 around 17%1 - Accretive deal for UniCredit shareholders from 2009 onwards and for Capitalia shareholders from the outset1 - DPS to grow progressively over the next years - Core Tier I ratio confirmed at 6.8% by 2008 • Capitalia’s activities to be integrated within UniCredit divisional model • Creation of three retail banks in Italy with specific regional responsibilities 20 May 2007 The UniCredit and Capitalia Board of Directors, which met today in Milan and Rome respectively, approved the merger project by incorporation of Capitalia S.p.A. in UniCredito Italiano S.p.A. 1 Based on brokers consensus from Reuters. EPS pre allocation of Transaction goodwill 1 In addition, UniCredit and Capitalia Board of Directors called the respective extraordinary shareholders’ meetings which will be asked to approve the merger project and the related changes of the articles of association.
    [Show full text]
  • Fitch Ratings ING Groep N.V. Ratings Report 2020-10-15
    Banks Universal Commercial Banks Netherlands ING Groep N.V. Ratings Foreign Currency Long-Term IDR A+ Short-Term IDR F1 Derivative Counterparty Rating A+(dcr) Viability Rating a+ Key Rating Drivers Support Rating 5 Support Rating Floor NF Robust Company Profile, Solid Capitalisation: ING Groep N.V.’s ratings are supported by its leading franchise in retail and commercial banking in the Benelux region and adequate Sovereign Risk diversification in selected countries. The bank's resilient and diversified business model Long-Term Local- and Foreign- AAA emphasises lending operations with moderate exposure to volatile businesses, and it has a Currency IDRs sound record of earnings generation. The ratings also reflect the group's sound capital ratios Country Ceiling AAA and balanced funding profile. Outlooks Pandemic Stress: ING has enough rating headroom to absorb the deterioration in financial Long-Term Foreign-Currency Negative performance due to the economic fallout from the coronavirus crisis. The Negative Outlook IDR reflects the downside risks to Fitch’s baseline scenario, as pressure on the ratings would Sovereign Long-Term Local- and Negative increase substantially if the downturn is deeper or more prolonged than we currently expect. Foreign-Currency IDRs Asset Quality: The Stage 3 loan ratio remained sound at 2% at end-June 2020 despite the economic disruption generated by the lockdowns in the countries where ING operates. Fitch Applicable Criteria expects higher inflows of impaired loans from 4Q20 as the various support measures mature, driven by SMEs and mid-corporate borrowers and more vulnerable sectors such as oil and gas, Bank Rating Criteria (February 2020) shipping and transportation.
    [Show full text]
  • ING Pressrelease
    Press release Corporate Communications Amsterdam, 25 February 2021 ING appoints Anne-Sophie Castelnau global head of Sustainability Anne-Sophie Castelnau has been appointed ING’s global head of Sustainability per 1 April 2021. She will succeed Amin Mansour, who fulfilled the role on an interim basis. Anne-Sophie is currently head of Wholesale Banking for ING in France. Anne-Sophie Castelnau (French) joined ING in France in 2005. Before she became head of Wholesale Banking in France, she held various senior management positions, including head of Corporate Lending and head of Client Coverage. Before she joined ING, Anne-Sophie worked for French banks Natixis and Crédit Industriel et Commercial. Since she became head of ING Wholesale Banking in France in 2017, Anne-Sophie has had a strong focus on sustainable finance. She has been involved in bringing over 25 sustainability deals to fruition, including the first sustainability linked loan in France in 2017. Announcements on Anne-Sophie’s successor as head of Wholesale Banking in France will be made as and when appropriate. Note for editors For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via the @ING_news Twitter feed. Photos of ING operations, buildings and its executives are available for download at Flickr. ING presentations are available at SlideShare. Press enquiries Investor enquiries Daan Wentholt ING Group Investor Relations +31 20 576 6386 +31 20 576 6396 [email protected] [email protected] ING PROFILE ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank.
    [Show full text]