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Banca Intermobiliare to sell Swiss unit

Banca Intermobiliare said June 5 that it intends to sell its Swiss subsidiary.

Swiss lender Banca Zarattini & Co. SA was granted a 30-day exclusivity period to negotiate the purchase of Banca Intermobiliare di Investimenti e Gestioni (Suisse) SA. Banca Intermobiliare said the sale reflects its strategy to focus on private banking in Italy.