(Finance) – The Board of Directors of Mediocredito Centrale (MCC) approved the Industrial plan for the period 2022-2025 which confirms the medium-term vision of the MCC Group outlined in the previous Plan to 2024 and develops on 4 directives: active role in the recovery and transition with a focus on sustainability (ESG) and critical supply chains in the South, acceleration of the development of commercial banks, operational clarity through a precise mission for each company in the Group, economic and capital sustainability.
Looking at the targets strategies of the Group, an increase in loans to customers over the period of the Plan, with a fully operational stock of more than 12 billion to 2025 (compared to the 11 billion expected at full capacity in the previous plan) and a significant increase in proprietary securities portfoliowith low capital absorption loans (3.5 billion expected by 2025 compared to the 3.2 billion expected in the previous plan when fully operational).
The new Plan also aims for one acceleration in the derisking processwith the NPL ratio expected to be 9.1% in 2025, also due to the scenario forecasts that foresee an increase in impaired loans, and a cost-income alignment to peers (expected at 59% in 2025 compared to 60.8% when fully operational in the previous plan).
Profitability is expected to grow, with ROE at 7.6% in 2025 (compared to 8% when fully operational in the previous plan) due to a net profit at full capacity of 86 million (compared to 75 million when fully operational in the previous plan).
For the Banca Popolare di Bari positioning is expected as reference retail bank for the Southern Italy, relevant for the local communities of Puglia and the South, oriented towards the recovery of market share over the course of the plan. A profit of 56 million is expected by 2025 (compared to 34 million when fully operational in the previous plan) and a ROE of 10%.
For the for Savings Bank of Orvieto positioning is expected as relevant retail commercial bank for the local communities of their reference territory and of new geographies of Center of Italywith a credit stock expected at full capacity in 2025 of approximately 1.6 billion (compared to 1.3 billion at full capacity in the previous plan) and direct customer deposits of approximately 1.5 billion when fully operational in 2025 (compared to approximately 1.2 billion fully operational in the previous plan).