Italy

Meliorbanca SpA said it had received and will examine a merger proposal from Banca Profilo.

Banca Italease SpA remains a solid bank and will break even in 2008.

The board of Banca Italease has approved a EUR700m capital hike and a new 2008-2010 business plan.

IPotential new investors are keen to enter the share capital of Banca Italease, the Italian leasing and factoring company that recently lost close to 700m on structured derivatives.

Banca IFIS CEO has lifted the veil on the Italian factoring company's results for the second quarter of 2007.

Banca d'Italia has ordered leasing and factoring company Banca Italease to make known how it intends to manage customer relations.

Banca Monte dei Paschi di Siena plans to expand its leasing and factoring activities at about double the growth rates expected in the whole market.

Banca Italease to present its business plan for its leasing and factoring company in September and the company's new management will pursue gradual and sustainable growth.

Banca Italease SpA said factoring turnover in the first half 2007 rose 24.04% to EUR9.472bn.

Directors and auditors at Banca Italease have resigned and the bank has realigned its risk management department in the wake of huge losses on derivatives contracts.