Azimut extends agreement with FSI on TNB fintech bank project to June 2026

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)