swissnews.info’s Post

2025: A new chapter is opening

The Certificate analyzed here is very interesting in many aspects. The investment Certificate, named Phoenix Memory Callable, is written on one of the biggest Italian and international (primarily European) banking industry. The group is also very sensible to ESG aspects. The underlying #stock is strongly #momentum on 3 out of 3 periods analyzed (i.e. Hurst>0,5 with Statistical Significance>98% over 4096, 2048 and 1024 observations of daily logarithmic returns). From a risk perspective of systematic risk, we have an aggressive stock on both the period analyzed (i.e. Beta>1 in respect of FTSEMIB, on 5-yr and 1-yr rolling metric) and the metric is generally stable. From fundamental side the stock is #cheap, having a P/E of about 7x. In addiction, the stock is still undervalued and there is a favorable graphic situation. On the certificate side, it has high potential monthly coupons, fairly conservative protection, and medium maturity. Thus, the certificate, due to high coupons, allows for a good average annualized yield against an underlying that could still go up and that pays dividends. Leonteq Intesa Sanpaolo https://lnkd.in/e_29_ZAj

Andrea Orcel's vision for UniCredit's strategic acquisition of Commerzbank exemplifies remarkable foresight in navigating Europe’s fragmented banking sector. This move strengthens UniCredit's presence in Germany, the largest market in the EU, and perfectly aligns with the broader objective of creating a pan-European banking leader capable of competing with global giants. The thoughtful leveraging of derivatives to gradually increase ownership while respecting regulatory thresholds reflects a prudent and innovative approach to capital management. This gives UniCredit more room to increase its capital control in Commerzbank without incurring normative infringements. Additionally, the synergies anticipated from this integration, particularly in operational efficiency and digital innovation, promise substantial long-term benefits for both institutions. In an era where scale, technological advancement, and sustainability are vital for success, this acquisition underscores Orcel's commitment to enhancing UniCredit's competitive edge while supporting European economic stability. This is a bold and visionary step toward redefining the future of banking in Europe. https://lnkd.in/dT3eiY77

🌍 European Banks' Dynamics on the Rise! 🚀 #BANKING 🏦 : UniCredit goes on the offensive with an $11 billion offer for Banco BPM! UniCredit's recent €11 billion offer to acquire Banco BPM marks a significant milestone in European banking consolidation. This acquisition would strengthen UniCredit as the largest Italian lender by assets, while advancing the strategic ambitions of its CEO, Andrea Orcel. Banco BPM, with nearly €200 billion in assets, is a major strategic target in the Lombardy region, rich in opportunities. UniCredit aims to become a more competitive national bank, solidifying its position as the second-largest in Italy. This trend reflects a major consolidation wave within the European banking market, aiming to enhance competitiveness against other global economic blocs. The impact on other European players is already evident, with notable repercussions on stock prices and expansion strategies. UniCredit's offensive is not just a step toward market domination in Italy, but a strong signal of the transformation and resilience of European banks in a constantly evolving global economic environment. The challenges are numerous, but the opportunities for growth and leadership are equally abundant. #finance #banking #economy #Europe #strategy

The results for the first half of 2024 confirm Intesa Sanpaolo's ability to generate solid and sustainable profitability, with a net profit of EUR 4.8 billion and a forecast of EUR 8.5 billion for the full year. In his comments, CEO Carlo Messina underscores Intesa Sanpaolo's role in supporting the country's real and social economy. The full statement can be found on Intesa Sanpaolo's website: https://ow.ly/z8FL30sFoXi

Our Executive Director, Francois-Louis Michaud had the honour of addressing a conference commemorating the 10 year anniversary of the Single Supervisory Mechanism (#SSM), hosted by the Banca d'Italia last October. His speech, 'From a single banking rulebook to a single supervisor, and beyond' has now been published along with other contributions from the conference, in the July edition of Quaderni di Ricerca Giuridica. Francois-Louis reflects on the progress that has been made since the SSM came into force, challenges supervisors have faced along the way and of course, next steps to make the system even more robust and efficient. You can read the conference papers here: Bank of Italy - N. 101 - SSM Regulation, ten years since (bancaditalia.it)

🏦 A Bold Move in Italian Banking 🏦 Yesterday, the world’s oldest #bank, Banca Monte dei Paschi di Siena, surprised the market with a €13 billion takeover bid for its larger Italian rival, Mediobanca. This unexpected move adds another layer of complexity to Italy’s already dynamic #banking sector, where takeover bids are reshaping the landscape, and key players (Caltagirone, Delfin) hold stakes across multiple institutions. Meanwhile, Banca Intesa, a heavyweight in the industry, remains on the sidelines—for now. 👀 The big question: Will Banca Intesa step into the fray? And if so, how? The Italian banking system is clearly at a crossroads, and the coming months will be pivotal! Photo source: Bloomberg

While the issue in this case was very technical in nature, the issue of qualifying holdings in credit institutions is highly topical. Most #FDI #screening systems have provisions covering financial services. Together with the financial stability concerns underlying the prudential rules, this will be a field in financial law to keep an eye on.

🚀 Intesa Sanpaolo reports record results – Q3 and first nine months of 2024! Big news for Intesa Sanpaolo: €7.2 billion net profit for the first nine months of 2024 – that’s up 17% YoY! €2.4 billion net profit for Q3 alone, thanks to gains in both interest margins and fees. 📈 What’s Next?   We’re raising our net profit forecast for 2025 to €9 billion, while targeting €8.5 billion for 2024. All of this with zero reliance on acquisitions – avoiding integration delays, tech mismatches, and management distraction. 🔊 CEO Carlo Messina's statement: “The results from the first nine months of 2024 confirm Intesa Sanpaolo as a European leader” said CEO #CarloMessina. He noted that Intesa Sanpaolo’s market valuation places it alongside BNP Paribas and Santander—despite a significantly larger balance sheet. “In 2024, we expect to achieve a net profit above €8.5 billion, while the net profit target for 2025 has been increased to approximately €9 billion” Messina emphasized, “thanks to our bank’s strong potential to grow profitability organically”. Why it matters:   Intesa Sanpaolo is achieving growth by leveraging internal synergies, not by taking on the risks that come with big acquisitions. 🔹 Behind the Results: People & Technology 🔸 Technology: €3.5 billion invested in digital transformation. - 55% of our applications now run on Cloud, powered by our proprietary isytech platform. - Our digital bank, #Isybank, welcomed over 400,000 new clients, accelerating sharply since September. 🔸 People: Major growth in Wealth Management. - 1,500 new Global Advisors to be hired for Wealth Management & Protection, targeting 2,500 advisors at Banca dei Territori. - By 2027, we’ll have 20,000+ employees dedicated to Wealth Management & Protection across Italy, making Banca dei Territori a top 4 financial advisory network nationally. We’re building on our foundation and our vision for the future. 🏆 #IntesaSanpaolo #Q3Results #WealthManagement #DigitalBanking #FutureofBanking #italy #UE #EU

In March 2020, I assumed that the severe market correction due to Covid-19 would lead to new disputes related to Lombard loans (see: https://lnkd.in/dtP4ajn). Interestingly, this new judgment ACJC/378/2024 (see below) exactly confirms that, dealing with - in terms of a few keywords - WTI futures trading, margin calls, forced execution, etc. Many thanks to the Centre de droit bancaire et financier and Nicolas Ollivier for having shared this interesting decision.