BSI in talks to acquire Veneto Banca’s private banking unit

Italian cooperative lender Veneto Banca has started exclusive talks with Swiss bank BSI for the possible sale of its private banking unit Banca Intermobiliare (BIM).

Such a transaction would strengthen Veneto Banca’s capital base. The value of the deal remains under discussion.

Veneto Banca has been trying to sell its 71.4% controlling stake in BIM since late 2013.

Earlier in 2015, the firm found an agreement with a group of Italian investors for the sale of BIM but the European Central Bank did not authorise the transaction.

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