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Mestre/Florence, 8 September 2011. The Boards of Directors of Banca IFIS S.p.A. and Toscana Finanza S.p.A., met today to approve the merger by incorporation of Toscana Finanza into Banca IFIS and the relevant Directors’ Report.
Called Banca IFIS Board for the Merger with incorporation of Toscana Finanza
Faster margin growth and higher Core Tier 1 indicators. Record profits and increased equity confirm the Bank’s excellent solidity.
Since January 1st, 2012 Banca IFIS will not renovate the collaboration with Fitch Ratings Ltd about its ratings services.
The reason is that Banca IFIS will not issue debt securities which would require a rating.
Closing the deal, Fitch Ratings chose to maintain Banca IFIS rating: BBB- with negative outlook.