EFG completed BSI integration

7 years ago - Published in Finance, Fundamental Analysis

EFG International completed the integration of Ticino's private bank BSI, the bank it bought last year, according to a statement today.

With the transaction, BSI (Europe) was renamed into EFG Bank (Luxembourg). The company henceforth will use the EFG brand only. In Switzerland, almost all branches and offices have already been rebranded with the new logo. The rebranding of global locations will follow regional timelines. 

With the integration of BSI’s European business, EFG also for the first time is present in Italy. The Italian market is strategically important to EFG. It will have offices in Milan, Como and Genoa.EFG expects net outflows of CHF 10 billion by 2019.