"We think Basel 3 and US proposals could mean — unless amended — corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk," analysts, including Huw van Steenis and Betsy Graseck, wrote in a note to clients Morgan Stanley analysts cut their dividend forecast for Deutsche Bank, Credit Agricole, Credit Suisse, BBVA, Societe Generale, Unicredit, Intesa SanPaolo, BNP Paribas and KBC "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals on distribution," analysts said On Tuesday, the Committee of European Banking Supervisors said it will study how draft bank capital reforms from the global Basel Committee on Banking Supervision will affect EU banks, and also the impact of alternative proposals and definitions to those put forward by Basel 
Share:  <span class="sent">"We think Basel 3 and US proposals could mean — unless amended — corporates face a higher cost of credit and need to take on more liquidity risk, as the banks are asked to shed risk," analysts, including <span class="analyst">Huw van Steenis</span> and Betsy Graseck, wrote in a note to clients</span> Morgan Stanley analysts cut their dividend forecast for Deutsche Bank, Credit Agricole, Credit Suisse, BBVA, Societe Generale, Unicredit, <span class="company">Intesa SanPaolo</span>, BNP Paribas and KBC "Uncertainty on capital means dividends are likely to be constrained and we think the market has underestimated the potential impact of draft proposals on distribution," analysts said On Tuesday, the Committee of European Banking Supervisors said it will study how draft bank capital reforms from the global Basel Committee on Banking Supervision will affect EU banks, and also the impact of alternative proposals and definitions to those put forward by Basel Tweet this 

ROME (AP) — Italy's two largest banks, Unicredit and Intesa SanPaolo, backed out of a plan to sell bonds to the government, saying Tuesday that improving economic conditions made the proposed state aid unnecessary. Unicredit said it plans instead a capital increase of up to euro4 billion ($5.82 billion) by issuing ordinary shares, while Intesa SanPaolo intends to issue hybrid bonds worth euro1.5 billion. In March, the two banks had announced they would seek up to euro4 billion in state aid each, in the form of convertible bonds sold to the government, to shore up their core Tier 1 ratio — a key measure of a bank's capital strength. 
Share:  <span class="sent">ROME (AP) — Italy's two largest banks, Unicredit and <span class="company">Intesa SanPaolo</span>, backed out of a plan to sell bonds to the government, saying Tuesday that improving economic conditions made the proposed state aid unnecessary. </span> Unicredit said it plans instead a capital increase of up to euro4 billion ($5.82 billion) by issuing ordinary shares, while <span class="company">Intesa SanPaolo</span> intends to issue hybrid bonds worth euro1.5 billion. In March, the two banks had announced they would seek up to euro4 billion in state aid each, in the form of convertible bonds sold to the government, to shore up their core Tier 1 ratio — a key measure of a bank's capital strength. Tweet this 

[ID:nLR219302] Shares in the company, which has net debt of more than 600 million euros ($856.6 million) and has just secured a delay in a debt repayment, fell 9.62 percent to 0.385 euro. Its creditor banks include Intesa Sanapolo ( ISP.MI ) and UniCredit ( CRDI.MI ). It has a market cap of 114 million euros. "With private equity funds out of the game, and with the company facing liquidity issues..the clock is ticking rapidly," UniCredit analyst Davide Vimercati said in a note. He said Safilo could buy time by selling retail activities, that could be worth around 150 million euros. 
Share:  [ID:nLR219302] Shares in the company, which has net debt of more than 600 million euros ($856.6 million) and has just secured a delay in a debt repayment, fell 9.62 percent to 0.385 euro. Its creditor banks include Intesa Sanapolo ( <span class="company">ISP.MI</span> ) and UniCredit ( CRDI.MI ). It has a market cap of 114 million euros. <span class="sent"> "With private equity funds out of the game, and with the company facing liquidity issues..the clock is ticking rapidly," UniCredit analyst <span class="analyst">Davide Vimercati</span> said in a note. </span> He said Safilo could buy time by selling retail activities, that could be worth around 150 million euros. ...[ID:nLR219302] Shares in the company, which has net debt of more than 600 million euros ($856.6 million) and has just secured a delay in a debt repayment, fell 9.62 percent to 0.385 euro. Its creditor banks include Intesa Sanapolo ( <span class="company">ISP.MI</span> ) and UniCredit ( CRDI.MI ). It has a market cap of 114 million euros. <span class="sent"> "With private equity funds out of the game, and with the company facing liquidity issues..the clock is ticking rapidly," UniCredit analyst <span class="analyst">Davide Vimercati</span> said in a note. </span> He said Safilo could buy time by selling retail activities, that could be worth around 150 million euros. Tweet this 

For their size it is not a big deal, said WestLB analyst Thomas Noack, commenting on the deal's capital requirement. Italy's Generali is planning a series of smaller deals with regional Italian banks to replace its home market pact with Intesa Sanpaolo (ISP.MI), and analysts said it could talk with regional banks in Germany to replace Commerzbank (CBKG.DE) as a partner.  
Share:  <span class="sent">For their size it is not a big deal, said WestLB analyst <span class="analyst">Thomas Noack</span>, commenting on the deal's capital requirement. Italy's Generali is planning a series of smaller deals with regional Italian banks to replace its home market pact with Intesa Sanpaolo (<span class="company">ISP.MI</span>), and analysts said it could talk with regional banks in Germany to replace Commerzbank (CBKG.DE) as a partner. </span>...<span class="sent">For their size it is not a big deal, said WestLB analyst <span class="analyst">Thomas Noack</span>, commenting on the deal's capital requirement. Italy's Generali is planning a series of smaller deals with regional Italian banks to replace its home market pact with Intesa Sanpaolo (<span class="company">ISP.MI</span>), and analysts said it could talk with regional banks in Germany to replace Commerzbank (CBKG.DE) as a partner. </span> Tweet this 

reiterated that stance on Monday . POSSIBLE BENEFITS Some analysts cited possible benefits for Generali from the pact in completing the sale of its stake in the Intesa Vita joint venture or avoiding write downs on its 5.0 percent stake in Intesa Sanpaolo, or creating bancassurance ties with Credit Agricole . 'The critical thing for Generali is reaching a resolution on the joint venture and negotiating an exit price,' said ING analyst Charles Graham . Generali has said it is selling the Intesa Vita stake because of poor returns .Generali executives have said they expect a 650 million to 700 million euros price for the 50 percent stake . Intesa declined to comment on progress on the Intesa Vita stake sale nor on Generali's view on the price it should get . 
Share:  reiterated that stance on Monday . POSSIBLE BENEFITS Some analysts cited possible benefits for Generali from the pact in completing the sale of its stake in the Intesa Vita joint venture or avoiding write downs on its 5.0 percent stake in <span class="company">Intesa Sanpaolo</span>, or creating bancassurance ties with Credit Agricole . <span class="sent"> 'The critical thing for Generali is reaching a resolution on the joint venture and negotiating an exit price,' said ING analyst <span class="analyst">Charles Graham</span> . </span> Generali has said it is selling the Intesa Vita stake because of poor returns .Generali executives have said they expect a 650 million to 700 million euros price for the 50 percent stake . Intesa declined to comment on progress on the Intesa Vita stake sale nor on Generali's view on the price it should get . ...<span class="sent">'The critical thing for Generali is reaching a resolution on the joint venture and negotiating an exit price,' said ING analyst <span class="analyst">Charles Graham</span> . </span> Generali has said it is selling the <span class="company">Intesa</span> Vita stake because of poor returns .Generali executives have said they expect a 650 million to 700 million euros price for the 50 percent stake . <span class="company">Intesa</span> declined to comment on progress on the <span class="company">Intesa</span> Vita stake sale nor on Generali's view on the price it should get . Tweet this 

MILAN (AP) - The Italian bank Intesa SanPaolo on Thursday reported a 39 percent decrease in first quarter profit due to lower commissions and greater provisions for bad loans amid the world financial and economic crisis. The bank said first quarter net profit was euro1.1 billion ($1.5 billion), down from euro1.7 billion in the same period last year. The bank lost euro1.2 billion in the fourth quarter of 2008. 
Share:  <span class="sent">MILAN (AP) - The Italian bank <span class="company">Intesa SanPaolo</span> on Thursday reported a 39 percent decrease in first quarter profit due to lower commissions and greater provisions for bad loans amid the world financial and economic crisis. </span> The bank said first quarter net profit was euro1.1 billion ($1.5 billion), down from euro1.7 billion in the same period last year. The bank lost euro1.2 billion in the fourth quarter of 2008. Tweet this