Banco Bpm, with over 97%, the assembly approves the relaunch on soul

The Banco BPM assembly approved with 97.64% of those present The increase from 6.2 to 7 euros of the Public Purchase Offer on the Holding Anima Asset Manager which for the Milanese bank translates into an increase of 250 million. The green light at the operation therefore came from about 51% of the total capital of the institute. The Assembly therefore also given the Board of Directors the right to proceed even in the absence of the benefits of the Danish Compromise and also in the event of achieving a participation of less than 66.67%.

The votes arrived in an assembly represented by 56.664% of the share capital, average for the counter. The plenary opened with the words of the president Massimo Tononi: « Perhaps it is the first assembly of a large quoted that takes place in presence ».
The Assizes had only one way on the agenda. CEO Giuseppe Castagna has returned to the opening on the budget numbers and on the update of the plan which also includes soul « with a achievement of the tangible equity 24%, at the highest levels, said the CEO -. With Anima we continue our project to strengthen the factories produced and to rebalance the margin of interest in profitability, given that the rates are going down, with the commissions ». « We will do more useful and will be useful of better quality, » concluded Castagna. On the timing: Consob will intervene within five days after the ECB to Opa ok.

The members

No news from the reading of the Member book, with the Credit Agricole at 9.9% (the banque vete also has 5% potential by derivatives), Deutsche Bank at 5.18% as emerged yesterday by surprise, Blackrock at 5.04% (share detained for savings management) e JP Morgan at 3.6%.

Savings managed

«We become second players in the managed savings. The operation also creates value for animal shareholders, with a value creation of 10%. Nesuna another bank has the ability to offer a larger range of products, « said CEO. He recalled that Banco Bpm considered the subscribed adhesion commitments can count on 44.8% of the share capital of Anima. The reference is to the position of FSI, Poste and the management who have committed themselves to bringing their shares to Piazza Meda which in turn already has 22% of the soul. Yesterday the bank, in an integration of the report to the shareholders required by Consob in view of today's assembly, had indicated in 45% of the capital the share that allows it to implement its « programs » on soul and to achieve synergies.

The Danish compromise

« We are waiting for with great serenity, we cannot be dictated the times to regulators but we have been very transparent in saying the landing point of capital both with the Danish Compromise and without », explained Castagna, talking about the timing on the shore of the ECB-EBA to the granting of the patrimonial benefits related to the Danish compromise. The experience in cases similar to those of the counter, recalled, « so far has been 100% positive ». « ECB told us that the authorization is still pending and are making insights with the eba. » The 15% estimate of CET1 Ratio was also confirmed in the event of obtaining the Danish compromised, while in the event of a negative feedback of the ECB, the CET1 Ratio is « estimated in the 13-13.5% area ».