Reporting by Valentina Za; Editing by Jan Harvey Our Standards: The Thomson Reuters Trust Principles., opens new tab , opens new tab Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. , opens new tabScreen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. © 2025 Reuters. All rights reserved Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView Please enable JS and disable any ad blocker Andrea Sironi currently works at Assicurazioni Generali SpA Fondazione AIRC per la ricerca sul cancro ETS European Association for the Study of the Liver International Society for Performance Improvement Istituto per gli Studi di Politica Internazionale Associazione fra le società italiane per azioni Fondazione Generali The Human Safety Net Onlus and European Financial Services Round Table Sironi also formerly worked at CEMS The Global Alliance in Management Education as Lead Independent Non-Executive Director from 2012 to 2015 as Independent Non-Executive Director from 2016 to 2020 as Independent Non-Executive Director from 2018 to 2019 Sironi received his undergraduate degree in 1989 from the University of Bocconi GENERALI : Strategic and Financial Implications of Mediobanca's Bid for Banca Generali Monday - Friday 9am-12pm / 2pm-6pm GMT + 1 All financial news and data tailored to specific country editions Mediobanca SpA has launched a takeover bid for Banca Generali, the private banking arm of Assicurazioni Generali SpA, reinforcing the insurer’s position at the centre of heightened merger and acquisition activity in Italy, according to a Bloomberg report. The deal, if completed, would create a significant wealth management firm with around €210 billion in client assets. Mediobanca CEO Alberto Nagel told analysts on Monday that the acquisition had been a longstanding objective. He added that the structure and timing of the offer could also strengthen Mediobanca’s position against a potential hostile bid from Banca Monte dei Paschi di Siena SpA. Italy’s financial sector has experienced a wave of consolidation since late 2023, with early activity focusing on Banco BPM SpA before shifting towards Generali. Investors, corporate leaders and government figures have increasingly sought influence over Generali, reflecting its central role in Italy’s insurance and financial markets. Thomas Nienaber of MKP Advisors described Mediobanca’s offer as “all about Mediobanca defence”, noting that it adds further complexity to the ongoing contest for control of Generali. Generali plays a major role in Italy’s financial system, managing more than €600 billion in assets, including over €30 billion in Italian government bonds, which are considered important for national savings and pensions. Nagel said on Monday that the move was not a direct response to previous criticisms but acknowledged that the transaction would address concerns about Mediobanca’s exposure to Generali. The proposed deal would involve Mediobanca exchanging its Generali stake for shares in Banca Generali, 50.2% of which are owned by Generali. Approval from Generali’s board will be necessary for the transaction to proceed. Nagel described Banca Generali as the “best M&A opportunity” for Mediobanca, saying it would accelerate the group’s transition towards a greater focus on wealth management services. The latest move follows a series of bids across Italy’s finance sector, beginning with Banco BPM’s offer for Anima Holding SpA in November. Banco BPM itself became a target for UniCredit SpA soon afterwards. Separately, Monte Paschi made its move on Mediobanca, while BPER Banca SpA pursued Banca Popolare di Sondrio SpA. Mediobanca plans to call a shareholder meeting on June 16 to seek approval for the proposed bid. The bank said the acquisition would increase its return on tangible equity to 20% from 14% and could deliver approximately €300 million in synergies. A previous attempt by Mediobanca to acquire Banca Generali in 2020 was unsuccessful after Generali decided not to sell the unit, according to people familiar with the discussions at the time. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world The offer for Banca Generali which would create a major wealth manager with some €210 billion ($238 billion) in client funds has long been in Chief Executive Officer Alberto Nagel’s sights The bid by Mediobanca – which is subject to shareholder approval in June – highlights how Italy's wealth and financial services business is busy with M&A activity Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes Register Here Essential digital access to quality FT journalism on any device Complete digital access to quality FT journalism with expert analysis from industry leaders Complete digital access to quality analysis and expert insights complemented with our award-winning Weekend Print edition Terms & Conditions apply Discover all the plans currently available in your country See why over a million readers pay to read the Financial Times Mediobanca launches €6.3bn bid for Banca Generali in strategic wealth management push The Milan-based bank outlined plans to finance the acquisition by selling its €6.5bn stake in Assicurazioni Generali half of Mediobanca’s Generali shares would be returned to Generali with the remainder offered to Banca Generali’s existing investors representing an 11.4% premium to Banca Generali’s last closing price comes as Mediobanca seeks to fend off a hostile approach from rival lender Monte dei Paschi di Siena (MPS) and address shareholder concerns over its historic reliance on dividend income from its Generali holding Chief Executive Alberto Nagel said the transaction would create “a solid profitable group which excels in creating value for all its stakeholders,” forecasting approximately €300m in synergies from the combination Shares in Banca Generali jumped 8% on the announcement Mediobanca must still secure shareholder approval for the offer The move also follows a recent victory for Mediobanca in its longstanding governance battle at Generali where it defeated a rival slate of directors backed by tycoon Francesco Gaetano Caltagirone and Delfin the holding company of the Del Vecchio family the acquisition would reinforce Mediobanca’s wealth management ambitions and signal further consolidation within Italy’s financial services sector Source: Financial Times If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com Subscribe to our Newsletter to increase your edge through our newsletter you’ll receive weekly access to what is happening By signing up for our newsletter, you accept our terms and conditions as outlined under pe-insights.com/privacy-policy. Prior to the official approval by Mediobanca's Board of Directors for the voluntary public offer (OPS) on Banca Generali, the related parties committee at Piazzetta Cuccia had already expressed a favorable opinion on the transaction, deeming the offer consideration "reasonable." MEDIOBANCA : MB's alternative proposal to BMPS's hostile offer Mediobanca relaunches banking battle with bid for Banca Generali Banking M&A: Italy's Monte Paschi Makes 13.3 Billion Bid for Mediobanca believes that the company's upcoming Board of Directors meeting on May 7 will also address the takeover bid launched by Mediobanca for Banca Generali last week Bookmark content that interests you and it will be saved here for you to read or share later The bank’s AI-powered chatbot offers tailored insights and real-time answers When Banca Investis required an innovation of its service model We helped the company develop and launch an AI-based investment advisory app that increases the frequency of touchpoints between customers and the bank while also improving the quality of the customer experience pieces of information and research analyzed daily generative AI–powered platform that plays the role of a “digital junior banker” in supporting customers and bankers The NIWA app analyzes more than 500 pieces of information and research daily including customers’ financial assets Key features include tailored financial insights and market news real-time answers to questions about investment portfolios and financial news Banca Investis sets the bar as the first bank in the Italian market to rapidly deploy a comprehensive generative AI application for private customers The app has enabled us to increase engagement through cutting-edge banking practices in a personalized The Italian multi-utility has built a strong foundation to support dozens of initiatives and proactively address new technology opportunities Multiversity’s bold and innovative transformation leverages generative AI to power a 24/7 student support system our monthly look at the critical issues facing global businesses *I have read the Privacy Policy and agree to its terms. , opens new tab rose 50% over the same period which has reduced the median price-to-book discount to 10%.Ifis CEO Frederik Geertman said the bid price was fair."We stand by this offer for now," he said adding illimity shareholders would benefit from "generous" dividend payments given Ifis' strong track record on payouts.He forecast a profit of more than 250 million euros in 2027 helped by 75 million euros a year in pre-tax benefits from the merger of which two thirds would be from cost cuts.Ifis's 2024 net profit target stands at 160 million euros Illimity's nine-month profit was 31 million euros.Illimity is a digital-only cloud-based bank founded by veteran Italian banker and former minister Corrado Passera with backing from former Barclays CEO Bob Diamond The bank debuted on the Milan bourse in March 2019 at 7.3 euros a share.The share price has fallen from late 2021 highs of nearly 14 euros as illimity overhauled its business model and slimmed down its bad loan operations.Italy's bad loan market has dried up as banks' credit quality improved tighter rules have heightened the challenge for debt recovery specialists.In November illimity agreed to sell a controlling interest in its technology assets to private equity firm Apax.Ifis estimated illimity integration costs at 110 million euros which would be partly covered by a capital boost generated by buying the bank at a discount to book value.Ifis' controlling shareholder La Scogliera the holding company of Italy's Furstenberg family will own 45% of the combined entity if the offer is fully successful La Scogliera currently holds 50.5% of Ifis.($1 = 0.9656 euros)Editing by Jason Neely Helping Shape the European Financial Services Industry Since 2002 Mediobanca is expected to concentrate primarily on wealth management aiming to double its revenues to €2bn and substantially increase its net profits has initiated a €6.3bn proposal to acquire Banca Generali a move intended to bolster its autonomy amidst ongoing tensions with key shareholders Banca Generali is an Italian financial institution specialising in private banking and wealth management services for high-net-worth individuals The bid aims to be funded through Mediobanca’s stake in insurance company Assicurazioni Generali where the bank holds the position of the largest investor The strategic manoeuvre comes as a response to opposition from other significant shareholders who hold substantial shares in both Generali and Mediobanca The rivalry between these parties has escalated with Caltagirone and Delfin acquiring nearly 20% of Monte dei Paschi di Siena and backing its unsolicited bid for Mediobanca Mediobanca’s offer for Banca Generali includes a public voluntary exchange offer for all shares with plans to finance the acquisition entirely through shares in Assicurazioni Generali The proposed acquisition is expected to significantly impact Mediobanca’s operations by enhancing its wealth management capabilities The transaction aligns with the bank’s “ONE BRAND-ONE CULTURE” Strategic Plan aiming to position the Mediobanca Group as a leading entity within the wealth management sector across Europe wealth management is anticipated to become the core focus of Mediobanca’s business activities doubling its revenues to €2bn and significantly boosting its net profits This merger is projected to yield substantial synergies amounting to approximately €300m the deal is anticipated to enhance shareholder value by increasing returns on tangible equity (ROTE) and consolidated net profit while maintaining a strong CET1 ratio The acquisition necessitates Mediobanca selling its current investment in Assicurazioni Generali thus transitioning from a financial relationship with Assicurazioni Generali to an industrial partnership This shift aims to leverage Mediobanca’s private and investment banking model to strengthen its advisory role for businesses and entrepreneurs while delivering value for employees and shareholders Give your business an edge with our leading Future Banking Give your business an edge with our leading industry insights View all newsletters from across 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All Rights Reserved 2025 angering the Berlin government.After placing MPS shares with international investment funds over the past year to lower the stake it acquired in a 2017 bailout Italy wanted to encourage the emergence of a core of more stable shareholders with a new placement sources had previously told Reuters.To meet re-privatisation commitments agreed with the European Union the Treasury had to cut the stake below 20% by the end of the year.They sold 15% in November to cut the stake just below 12%.Akros said it had taken into account all orders that had been properly placed."All orders were collected and processed in the same manner and no correctly submitted transaction proposal was ignored," it said.Writing by Valentina Za; Editing by Alvise Armellini and Richard Chang FROM AFP NEWSItaly Bank Merger Wave Heats Up As Mediobanca Eyes Banca GeneraliBy AFP - Agence France Presse ShareResizeReprintsThe Barron's news department was not involved in the creation of the content above. This article was produced by AFP. For more information go to AFP.com.© Agence France-Presse Banco Bpm would not be dissatisfied, as a shareholder of Banca Mps, if the Tuscan bank were to acquire Banca Generali. Credit Agricole Deputy CEO on Higher Taxes Impact, Banco BPM Offer according to people familiar to the matter the Modena-based bank said in a separate statement.($1 = 0.9634 euros)Reporting by Andrea Mandala in Milan and Gursimran Kaur in Bengaluru; Editing by Shounak Dasgupta and Valentina Za which has always been seen as in need of a partner and which had been looking at BPM with no option but to bid for Mediobanca.Unipol's Cimbri had offered to join forces with MPS but Italy's conservative government spurned an offer that came from a camp traditionally close to left-wing politics in Italy.($1 = 0.9639 euros)Reporting by Valentina Za and Andrea Mandala; Editing by Emelia Sithole-Matarise and Jane Merriman (WCHS) — A new Italian restaurant has opened its doors in Cabell County a 1920s Prohibition-era themed Italian restaurant in Milton held a ribbon cutting ceremony Wednesday for its opening “We’re a mixture of other Italian restaurants that you’ve gone to with a little flair of the bank,” executive food and beverage director Sandy Call said La Banca will be open daily serving lunch and dinner Reservations have been available on the restaurant’s website since Nov but right now it is encouraged to make a reservation See More Data People Prosperity Planet Infrastructure Digital Capacity development and training for next-generation leaders Explore the WBG Academy Africa East Asia & Pacific Europe & Central Asia Latin America & Caribbean Middle East & North Africa South Asia Tracking our projects and results is a cornerstone of our work to become more transparent The proposed transaction is part of a trend towards consolidation in Italy’s banking sector where lenders are seeking larger scale to remain competitive both domestically and across Europe.  The offer follows an ongoing challenge to Mediobanca’s position by Monte dei Paschi di Siena (MPS) which has launched a hostile bid against the Milan-based bank Mediobanca shareholders are required to approve the proposed acquisition at a meeting scheduled for 16 June 2025 Mediobanca plans to divest its 13% holding in Assicurazioni Generali currently valued at around EUR 6.5 billion Mediobanca is the largest shareholder in Generali which itself owns just over half of Banca Generali according to the Financial Times half of the Generali shares owned by Mediobanca would return to Generali while the remainder would be distributed to other investors in Banca Generali.  Representatives from Mediobanca indicated that the acquisition would support its wealth management business and address concerns among some shareholders about the bank’s reliance on income from its Generali stake They noted that merging the two banks could result in approximately EUR 300 million in cost and revenue synergies and described the potential new entity as a stable and profitable organisation capable of enhancing value for investors.  The situation unfolds in the context of internal disputes involving key shareholders Mediobanca secured support for its preferred board slate at Generali’s shareholder meeting overcoming opposition from investors including Francesco Gaetano Caltagirone His alternative list of directors had been backed by Delfin the holding company associated with the Del Vecchio family Mediobanca’s largest single shareholder Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information 2025 at 7:55 AM EDTBookmarkSaveTakeaways NEWAs Italy’s largest banks get ready to report results what matters most to investors isn’t profit or revenue The country’s lenders have been swept up in a wave of proposed transactions that could result in a fundamental transformation of the industry alliances and sometimes conflicting interests means that movement on one deal has repercussions for the rest © ReutersLoading theElevenlabs Text to SpeechAudioNative Player...Italian lender Mediobanca has launched a €6.3bn takeover offer for its domestic rival Banca Generali as it attempts to fend off a hostile takeover attempt by state-backed Banca Monte dei Paschi di Siena The Milan-based group said on Monday that merging the two lenders would create a “European market leader” Plus: NatWest posts strong Q1 profit ahead of full privatisation Plus: BNY ups office mandate to four days a week Plus: BoE warns of higher loan loss provisions linked to US tariffs Plus: Erste Group in talks to buy 49% stake in Santander Bank Polska Regulators adopted an “early intervention measure” aimed at “ensuring adequate supervision” as well as “restoring conditions of sound and prudent management,” the lender said in a statement late on Friday could lead to a restructuring or to a winding up of the bank This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page Banca March confirmed its plans to appeal the decision highlighting its full compliance with AML regulations representatives from the bank mentioned that this represented the payment of a debt coming from a tax regularisation operation that had the prior approval of the Tax Agency Banca March stated that it accepted the transaction after previously confirming its validation by the Tax Agency The financial institution considers that its actions and practices were correct and fall in line with the legislation on the prevention of money laundering the appeal process is set to proceed to Spain’s Supreme Court where Banca March expects to overturn the EUR 605,424 fine.  As the cardinal-electors process into the Sistine Chapel On their minds (but not the agenda) is a €6.3bn ($7.2bn) offer for Banca Generali a wealth manager of which the group owns half is the latest effort to consolidate a crowded financial sector This article appeared in the Finance & economics section of the print edition under the headline “Something for everyone?” Discover stories from this section and more in the list of contents Why what you’ve read about the trade deficit hurting growth is wrong A martini doesn’t just steady the nerves after a rollercoaster week Fund managers smell an opportunity to get even bigger A truce is still possible, but no one wants to be first to pick up the phone They turn retail savers into hedge-fund managers Registered in England and Wales. No. 236383 | Registered office: The Adelphi, 1-11 John Adam Street, London, WC2N 6HT | VAT Reg No: GB 340 436 876 shared his insights on the evolution of private assets in Italy the discussion covered several key topics: Federico Romoli’s Background and Role at Sella SGR: Federico Romoli began his career at Fineco Bank during the late 2000s navigating the challenges of the financial crisis focusing on developing the private markets business and selecting investment strategies for the wealth channel The Growing Importance of Private Assets: Romoli highlighted the significant shift in the investment landscape over the past 15 years private assets were difficult for private clients to access due to limited investment opportunities and a focus on institutional clients recent years have seen increased interest and investment in private assets driven by better education and market developments Education and Its Role in Private Asset Investment: Education has been crucial in promoting private asset investments Romoli emphasized the need for thorough understanding before investing both for private bankers and their clients He discussed the importance of educating clients about private equity Emerging Trends: Evergreen Solutions: Romoli discussed the rise of Evergreen solutions which offer continuous investment opportunities and liquidity He stressed the importance of selecting managers with robust deal flows and investment platforms to ensure successful implementation of these strategies Regulatory Environment and Its Impact: The regulatory framework in Italy has improved significantly with milestones like the introduction of ELTIF 1.0 and the anticipated ELTIF 2.0 These regulations have made it easier for retail clients to invest in private equity funds although there is still room for further improvements Manufacturer and Distributor Dynamics: Romoli explored the evolving relationship between manufacturers and distributors in the private markets He noted that while manufacturers are getting closer to distribution there remains a distinct separation between the two roles and fair cost structures were highlighted as key factors in successful distribution Future of Private Markets and Stakeholder Involvement: Looking ahead Romoli predicted increased consolidation in the industry and the emergence of new stakeholders such as advisors specializing in portfolio construction He also discussed the potential growth of the secondary market which provides liquidity and efficiency to the private asset space Conclusion: The fireside chat concluded with Romoli expressing optimism about the future of private markets in Italy He emphasized the need for continued education and strategic partnerships to drive growth and innovation in the sector Explore unlimited content like this, available only in the platform.Already a client? Sign in By submitting this form, you consent to allow ION to store and process the personal information submitted. For more information, please review our Privacy Policy Do Not Sell or Share My Personal Information (Opt-Out) Insights into our work on financial stability and payments and market infrastructures Access to all ECB statistics and background information All you need to know about our common currency In-depth studies and expert analyses covering diverse topics and fields firms indicated a reduction in the need for bank loans (net ‑4% firms reported broadly stable availability of bank loans (a net ‑1% down from a net 2% in the previous quarter) This left the bank loan financing gap – an index capturing the difference between the need for and the availability of bank loans – broadly unchanged (a net ‑1% after a net 1% in the previous survey round) The current composite financing gap indicator – which includes bank loans credit lines and trade credit as well as debt securities and equity – is reaching levels historically associated with periods of monetary policy easing firms expect a modest improvement in the availability of external financing over the next three months Firms continued to perceive the general economic outlook to be the main factor hampering the availability of external financing as in the previous survey round (a net ‑21% A net 7% of firms indicated an improvement in banks’ willingness to lend (down from a net 8% in the previous survey round) A net 6% of firms reported an increase in turnover over the last three months with a significantly higher percentage of firms becoming optimistic about developments in the next quarter (a net 30% More firms saw a deterioration in their profits compared with the previous survey round (a net ‑16% down from ‑14% in the previous survey round) The survey indicates that the net percentage of firms reporting rising cost pressures had also increased over the past three months Firms’ expectations of selling prices over the next 12 months were unchanged while expectations for wage costs slightly decreased driven by lower expected pressures in the services sector (Chart 3) firms’ selling price expectations remained unchanged at 2.9% while the corresponding figure for wages was 3.0% (down from 3.3% in the previous round) firms signalled a slight increase in other production costs (4% Firms’ inflation expectations for the short term slightly decreased while remaining unchanged at longer horizons (Chart 4) Median expectations for annual inflation one year ahead declined by 0.1 percentage point to 2.9% while those for three and five years ahead saw no changes A higher percentage of firms is seeing risks to the five-year-ahead inflation as being tilted to the upside (55% which was mirrored by a decline in the proportion of those perceiving risks to the downside (14% The report published today presents the main results of the 34th round of the SAFE survey for the euro area. The survey was conducted between 10 February and 21 March 2025. In this survey round, firms were asked about economic and financing developments over two different reference periods. Around half of firms were asked about changes in the period between October 2024 and March 2025 all from the 12 largest euro area countries were asked about changes in the period between January and March 2025 firms also reported their expectations for euro area inflation the sample comprised 11,022 firms in the euro area of which 10,167 (92%) had fewer than 250 employees For media queries, please contact Benoit Deeg tel.: +49 172 1683704 Changes in the terms and conditions of bank financing for euro area firms Base: Firms that had applied for bank loans (including subsidised bank loans) The figures refer to rounds 27 to 34 of the survey (April-September 2022 to October 2024-March 2025) Notes: Net percentages are the difference between the percentage of firms reporting an increase for a given factor and the percentage reporting a decrease. The data included in the chart refer to Question 10 of the survey The grey panels represent responses for three-monthly reference periods whereas the white panels relate to replies for six-monthly reference periods Changes in euro area firms’ financing needs and the availability of bank loans Base: Firms for which the instrument in question is relevant (i.e Respondents replying “not applicable” or “don’t know” are excluded whereas the white panels relate to six-monthly reference periods Expectations for selling prices (percentage changes over the next 12 months) The figures refer to rounds 29 to 34 (September 2023 to March 2025) of the survey with firms’ replies collected in the last month of the respective survey waves Notes: Average euro area firms’ expectations of changes in selling prices non-labour input costs and number of employees for the next 12 months using survey weights The statistics are computed after trimming the data at the country-specific 1st and 99th percentiles The data included in the chart refer to Question 34 of the survey Firms’ median expectations for euro area inflation by size class The figures refer to pilot 2 and rounds 30 to 34 (December 2023 to March 2025) of the survey Notes: Median firms’ expectations for euro area inflation in one year The data included in the chart refer to Question 31 of the survey Reproduction is permitted provided that the source is acknowledged We use functional cookies to store user preferences; analytics cookies to improve website performance; third-party cookies set by third-party services integrated into the website You have the choice to accept or reject them For more information or to review your preference on the cookies and server logs we use Read our privacy statement Learn more about how we use cookies Global law firm White & Case LLP has advised funds managed by Oaktree Capital Management (Oaktree) on the sale of a controlling stake in Italian speciality bank "This is the latest in a number of significant deals on which we have advised Oaktree," said White & Case partner Richard Jones "It is another example of our capabilities advising on high value cross-border private equity transactions." Oaktree is a leading global investment manager with over US$193 billion assets under management Banca Progetto is a leading Italian bank focused on small and medium enterprises offering a specialised set of products to Italian small and medium-sized enterprises and European private customers leveraging a best-in-class digital platform and a well-established network of agents throughout Italy The White & Case team which advised on the transaction was led by partner Richard Jones (London) and included partners Ferigo Foscari Alessandro Seganfreddo and Alessandro Zappasodi local partners Alessandro Picchi and Sara Scapin counsel Tommaso Tosi (all Milan) and associates James Charteris-Black (London) Vincenzo Ferrini and Andrea Lamonica (all Milan) Prior results do not guarantee a similar outcome Learn about the EBRD's journey to investing more than €210 billion in over 7,400 projects business services and involvement in high-level policy reform We draw on three decades of regional knowledge and financial expertise to tailor our products and approaches to each client's needs The European Bank for Reconstruction and Development (EBRD) is lending €15 million to Banca Intesa Belgrade a member of the international banking group Intesa Sanpaolo under its flagship Youth in Business programme small and medium-sized enterprises (MSMEs) that are owned or managed by entrepreneurs under the age of 35 This is the second EBRD loan under its Youth in Business programme to Banca Intesa Belgrade after an inaugural €15 million loan in 2022 indicating a growing need for this type of financing in Serbia said: “We are delighted to build on our successful cooperation with Banca Intesa Belgrade to continue to support young entrepreneurs in Serbia By focusing our investment in young entrepreneurs we reaffirm the Bank’s commitment to fostering an inclusive and resilient private sector.” added: “As the only bank in Serbia to implement the Youth in Business programme in the local market in cooperation with the EBRD we are signing the new agreement reaffirming our commitment to supporting young entrepreneurs and creating a dynamic and competitive business environment in our country The new credit line will allow us to facilitate access to the financial resources and knowledge that young entrepreneurs need in order to implement business ideas thus not only contributing to the development of the entrepreneurial ecosystem in the country innovation and sustainable economic growth.” young entrepreneurs continue to face obstacles in accessing credit and expertise to grow their businesses The programme aims to address these market gaps by providing a package of financial and technical assistance for youth-led MSMEs The EBRD’s Youth in Business programme aims to empower entrepreneurs under the age of 35 supporting them with financial and non-financial products tailored to their needs demonstrating that young businesspeople are a bankable segment As well as gaining better access to finance young entrepreneurs will benefit from consultancy projects The programme is supported by the EU through its European Fund for Sustainable Development Plus (EFSD+) financial inclusion programme which introduces a variety of risk-sharing instruments to support businesses in more challenging markets The EU is providing up to €1.5 million for first loss risk cover which facilitates access to financing for young entrepreneurs These funds will support Banca Intesa Belgrade’s capacity building advisory services and training for young people running MSMEs the EBRD’s Western Balkans Youth in Business programme expects to provide €100 million to local banks and microfinance institutions over the coming years Engage with us Contact us Cookies are pieces of code used to track website usage and give audiences the best possible experience Use the buttons to confirm whether you agree with default cookie settings when using ebrd.com We use Adobe Analytics cookies to measure usage of the website in order to improve it and respond to end user actions. We review anonymised data on how people reach the site, where they click and so forth. Learn more here about specifics of our cookie use We use Adobe marketing cookies to enable us to customise ebrd.com to tailor the website and email marketing services based on the interests of each end user the latest move in a flurry of consolidation activity in the country’s banking sector The firm on Wednesday launched a €298 million ($308 million) tender offer in a mix of cash and shares for 100% of Illimity valuing each Illimity share at €3.55 based on the January 7 closing price That represents a roughly 5% premium over Illimity’s closing on Tuesday Mediobanca launched a surprise €6.3 billion ($7.2 billion) offer for the wealth management arm of Italian insurer Assicurazioni Generali SpA opening a potential defense strategy for the Milan-based bank amid Italy’s intensifying deal wave which itself is facing a takeover bid from Banca Monte dei Paschi di Siena SpA is offering to pay for the deal by swapping its shares in Generali Mediobanca is currently the largest shareholder in Banca Generali’s parent Mediobanca under Chief Executive Officer Alberto Nagel has become a key player in the interlocking series of deals unfolding in Italy since last year The offer for Banca Generali gives shareholders a further option for growth other than the Monte Paschi deal A divestment of that stake would make Mediobanca a less interesting asset for some other key actors involved in the deal wave It would also address previous criticism from some shareholders that the stake serves little strategic purpose Banca Generali shares gained as much as 9.6% after the open in Milan on Monday The exchange ratio for Generali bank shares has been set at 1.70 Assicurazioni Generali shares For years “we have considered Banca Generali as the best M&A opportunity,” Nagel said on a conference call with analysts on Monday It would allow the company to accelerate its strategic shift to wealth management Italy’s finance sector has been abuzz with deal chatter since early November when lender Banco BPM SpA launched a bid for asset manager Anima Holding SpA Banco BPM become a target itself a few weeks later when rival UniCredit SpA made an offer That’s spurred on other firms as lenders look to shore up their positions in the fragmented market Monte Paschi subsequently made its move on Mediobanca while BPER Banca SpA is bidding for Banca Popolare di Sondrio SpA Mediobanca will call a shareholder meeting on June 16 to get investor approval for the bid The deal would offer Mediobanca a boost to return on tangible equity The bank also said it would target savings of some €300 million Nagel has said in the past that Mediobanca was ready to look at acquisition opportunities in wealth management to speed up growth — and in the event of a transformational deal he would be ready to sell the bank’s stake in Generali A previous attempt by Nagel to take over Banca Generali in 2020 failed after the insurer decided not to sell its banking and wealth management unit people familiar with the matter said at the time Top photograph: Mediobanca Chief Executive Officer Alberto Nagel; Photo credit: Giuliano Berti/Bloomberg Please tell us what we can do to improve this article Get the insurance industry's trusted newsletter Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page.