Published by Global Banking & Finance Review®
Posted on December 29, 2025
1 min readLast updated: January 20, 2026
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Azimut extends its agreement with FSI to develop TNB fintech bank until June 2026, with a possible extension to December 2026, pending regulatory approvals.
Dec 29 (Reuters) - Italian asset manager Azimut said on Monday it had extended its binding agreement with private equity fund FSI to create fintech bank TNB, pushing the deadline to June 20, 2026.
The agreement, which was due to expire on Sunday, includes an option for a further extension until December 20 2026, and remains in line with the project's operational and regulatory timetable, the company said.
Azimut added that the transaction is expected to be completed next year, subject to regulatory approvals.
The asset manager said in November it expected regulatory authorization for the TNB project in the second quarter of 2026, after an inspection by the Bank of Italy revealed "significant governance and organisational shortcomings" at one of its units.
(Reporting by Laura Contemori and Enrico Sciacovelli; editing by Gavin Jones)
A fintech bank is a financial institution that uses technology to enhance or automate financial services, offering innovative solutions for payments, loans, and other banking activities.
Private equity refers to investment funds that buy and restructure companies not listed on public exchanges, aiming to improve their financial performance before selling them for profit.
An asset manager is a financial professional or firm that manages investments on behalf of clients, aiming to grow their portfolios through strategic investment decisions.
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