UniCredit

    • UniCredit, Nomura, UBS suffer €371m antitrust fine

      UniCredit, Nomura, UBS suffer €371m antitrust fine

      UniCredit, Nomura and UBS were fined with a total of 371 euros by the EU antitrust regulator over illegal agreements, linked to fixed income securities, Reuters reported. According to the EU regulator the three banks had a cartel agreement linked to trading with government bonds. UniCredit said it would appeal to the European Courts and UBS said it was considering doing so. Nomura, which was also fined, was not immediately available for comment.

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    • Italy's UniCredit braces for jolt of defaults

      Italy's UniCredit braces for jolt of defaults

      Italy’s UniCredit on Wednesday became the first major euro zone bank to write down the value of its loans to reflect the economic impact of the coronavirus crisis. Italy’s biggest bank by assets said it would book around €900m in additional loan loss provisions in the first quarter to take into account an expected 13% contraction in the euro zone’s 2020 gross domestic product.

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