Banca Ifis reaches 95.398% of Illimity Bank's share capital

Banca Ifis reaches 95.398% of Illimity Bank's share capital

Banca Ifis SpA has announced that it has reached 95.398% of Illimity Bank's share capital, marking the completion of the sell-out procedure [1]. The milestone was achieved on Friday, with the payment date of consideration for the purchase obligation of CFA set for 5 September 2025. This significant development signifies a significant step in the financial restructuring of Illimity Bank.

The completion of this sell-out procedure is part of Banca Ifis's broader strategy to streamline its financial operations and align with regulatory requirements. The process involved the acquisition of a substantial portion of Illimity Bank's shares, which will likely influence the bank's future financial performance and strategic direction.

In a separate development, Ringkjøbing Landbobank has been actively engaged in a share buyback program. The program, which runs from 2 June 2025 to 30 January 2026, aims to buy back up to DKK 1,000 million worth of shares, with a maximum of 1,600,000 shares [2]. This initiative is conducted in compliance with EU Commission Regulation No. 596/2014 and EU Commission Delegated Regulation No. 2016/1052, collectively known as the "Safe Harbour" regulation. The bank has already made transactions under the program, with the latest figures showing an ownership of 694,000 shares, corresponding to 2.73% of the bank's share capital.

These developments underscore the dynamic nature of the European financial landscape, where both acquisitions and share buybacks are common strategies employed by financial institutions to enhance their market position and financial health.

References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L8N3UO02F:0-banca-ifis-completes-sell-out-procedure-for-illimity-bank-reached-95-398-of-bank-share-capital/
[2] https://finance.yahoo.com/news/share-buyback-programme-week-35-073600482.html