FinecoBank Banca Fineco S.p.A. (ZS3.F)
- Reuters
Fineco to decide on next AT1 call based on market conditions- CEO
Italian online bank and brokerage FinecoBank will decide depending on market conditions whether to repay an 'Additional Tier 1' (AT1) perpetual bond with a first call option coming due in the fourth quarter, its chief executive said on Tuesday. "We are waiting a green light from the ECB, and once it arrives we will move in line with market conditions", CEO Alessandro Foti told a post-result press conference. Fineco issued a 300 million euro AT1 on July 2019, when UniCredit sold its residual stake in the company, in order to maintain the leverage ratio above 3.5%.
- Reuters
Italy's FinecoBank closes in Britain, citing Brexit fallout
Italy's FinecoBank said on Friday its board had approved the closure of its business in Britain due to regulatory difficulties following the country's exit from the European Union. The lender that specialises in online brokerage has been operating in Britain from its Italian headquarters under a temporary framework which will no longer be allowed after December this year, it said in a statement. The decision to quit the country "is driven by the significant change in the regulatory landscape in the UK, after its exit from the European Union," it said.
