Italian asset manager Azimut Holding has extended its agreement with private equity fund FSI to develop its planned fintech bank, pushing the deadline to June 2026, according to Reuters.
The project, known as TNB, was due to lapse at the end of December. Under the revised terms, the agreement runs until June 20, 2026, with a possible further extension to December if required.
Azimut has said it expects regulatory approval in the second quarter of 2026, after Italy’s banking supervisor Bank of Italy identified governance and organisational weaknesses at one of the group’s units. The extension signals additional time to address regulatory requirements before the deal closes.