(Finance) – MPS “He is proceeding at full speed in the execution of the plan and we are convinced that it will be impossible to stop our determination. We will achieve all the objectives”. She said it there‘CEO of MPS, Luigi Lovaglio, during the conference call with analysts. After the presentation of the industrial plan – underlined the top manager – “in 40 days we reached an agreement with the unions on the exits, we sold NPLs for 0.9 billion, we obtained the authorization from DG Comp and we presented the request to the ECB for the meeting in September: all signs that the bank is proceeding at full speed in the execution of the plan “.
Lovaglio then underlined the importance of the authorization from Brussels to extend the restructuring period, with the ok to the revised commitments. “Another important result – said the CEO – is that we have expanded the syndicate of banks and to date we have 8 banks that support MPS for the increase”.
“The conditions for the capital increase must be positive market conditions, we do not expect the Mef to increase its contribution” – Lovaglio said to those who pointed out that this was not one of the best times for the increase -.
“Despite the difficult market conditions we are proceeding and will do everything possible to arrive at the best possible conditions for the increase.”
Lovaglio, speaking on conference call with analysts about the new out-of-court requests for a total of 1.8 billion euros received in the second quarter, said: “These are requests that in most cases see a lack of legitimacy documentation and no causal link, so I am unfounded requests. They are serial requests, sent by the same consulting firm on behalf of some institutional investors “, he explained.” Everything that arrives is analyzed with the utmost seriousness, in this case we have asked our lawyers for an opinion and according to them these requests are extremely doubtful, so doubtful that it hardly even justifies provisions. We have given a mandate to our lawyers to protect the bank’s interests “, concluded Lovaglio.