Business & Financial News

The Italian bank UniCredit, the largest national bank, has signed the agreement on merge with the third largest bank of country - Capitalia. The largest bank will be created in a zone of euro bank with capitalization nearby 100 billion euro will be created in result of merge of these two financial organizations.
According to the Italian mass-media, UniCredit will pay 1,12 own shares for each Capitalia’s share. In view of the fact that according to the results of the tenders at Milan stock exchange on May, 18th, 2007, the cost of one UniCredit’s share has made 7,51 euros, one Capitalia’s share has been estimated by management UniCredit in 8,41 euros. Thus, the total cost of Capitalia has made nearby 21,83 billion euro.
It is worth of mentioning that on April, 20th, 2007, the information that UniCredit considers an opportunity of merge to French bank Societe Generale has occurred. However, next day management of Societe Generale has denied such data.
According to the experts’ estimations, in case of merge of these two banks in the European market there would be the financial giant leading the activity in France, Germany, Italy, the countries Central and the East Europe. The incorporated company would possess more than 57 million clients and almost 10,2 thousand branches.
Let’s remind that the net profit of UniCredit in 2006 has grown on 61,3 % - up to 5,45 billion euro in comparison with 3,38 billion the euros, received year earlier. Proceeds of bank in 2006 has increased on 12,5 %, having made 23,46 billion euro against 20,85 billion euro year earlier.
UniCredit Group is one of the leading financial groups in the Europe with current market capitalization of nearby 70 billion euro. The group is presented in 20 countries worldwide, 7 thousand branches and has nearby 132 thousand employees.