(Finance) – Banco BPM announces that the subsidiary Banco Bpm Vita has decided to give up the ECB condition in the context of the voluntary opa on Anima holdingin line with the authorization received by the Banco BPM shareholders’ meeting.
The decision, reads, was made after the communication of the European Central Bank of March 21 concerning the prudential treatment of the acquisition, a position contested by Banco Bpm, who on 26 March last, replied, to protect its shareholders, asking to clarify the reasons underlying the position expressed by the authority regarding the non -applicability of the Danish compromised to the purchase of soul and representing how, in its opinion, the prudent treatment itself. indicated in this communication, it is not consistent with the fundamental principles underlying the discipline on deductions contained in the CRR and the rules on financial conglomerates.
Today, the EBA rejected the question raised by Bank Bank on the applicability of the Q&A to the acquisition of soul, considering the question too complex to be resolved through the Q&A process.
Despite the absence of the Danish compromise, Banco Bpm reiterates the “strong strategic value of the operation”.
According to Piazza Meda, the acquisition will allow to “strengthen the business model, favoring greater stability of revenues and a wider diversification of the profit”.
Banco BPM also has Target confirmedwith a net profit expected to grow from 1.5 billion in 2026 to 2.15 billion in 2027 with the corresponding increase in the 13.5% Rote Target in 2026 to over 24% in 2027, corresponding to a ROE greater than 18%. The remuneration to shareholders will also undergo a significant increase of 50%, with a payout brought to 80% already starting from 2024 and over 6 billion distributed between 2024 and 2027.
On the patrimonial front, Banco BPM plans to maintain a solid capital positionwith a minimum cet1 ratio of 13% already starting from June 2025, without resorting to the Danish Compromise.
Further measures, explains the bank, can be activated on the basis of the final percentage of adhesions to Opa and the preliminary results of the PPA process, factors that could help mitigate the impacts of the acquisition.
“The Bank’s Board of Directors expressed today, unanimouslyone’s motivated conviction on the strong strategic and financial value of the Anima operation and this regardless of the prudential treatment linked to the Danish Compromise. They say it Massimo Tononi, President and Giuseppe Castagna, Banco Bpm CEO. The integration of soul, Italian leader in asset management, within the Banco BPM group will allow us to complete the articulation of our factories produced, adding to consumer credit, monetics and banking the fundamental piece of managed savings. This operation, the top managers explain, will expand the contribution of commission revenues to a significant extent, increasing the possibilities of our group to generate permanent value in favor of our shareholders and all the bank stakeholders thanks to our vocation as a bank close to the territory, families and SMEs: Strengthened by the contribution of Anima, this group is well positioned to reach the useful target at 2027 of 2,150 million euroswith a heritage that, throughout the arch, allows you to maintain margins largely higher than the minimum property requirements and in line with the objectives of the Peers, and with a remuneration to shareholders greater than 6 billion in the period 2024/27, a level that puts us at the top of the sector in Europe“.