Popular Bari, from Fitd immediately 310 million
2019-12-30T21:19:34.830Z
The hole was too big, an important move was needed immediately. Here then, for Banca Popolare di Bari, the annus horribilis ends with the help of the Interbank Deposit Protection Fund, which immediately disburses 310 million euros. The Fitd, which unanimously approved the extraordinary allocation, underlines how "the intervention will be carried out through a payment in the future capital increase of the bank, and constitutes an anticipatory measure in the context of a large capital strengthening project of 1.4 billion euros, to be realized in the coming months ". Attention, however: the Fund will contribute to the maximum amount of 700 million, "suitable for pursuing the recovery and revitalization objectives indicated by the commissioners", while the other half will be allocated by Mediocredito centrale, a subsidiary of the Ministry of Economy. The input from the Conte government was very clear: to immediately secure the foundations of the institute for 2020 without the nightmare of the crash. The Fund, concludes the note issued in the evening, assures the "extraordinary commissioners of their support in the strategic and managerial action to be taken". Antonio Blandini and Enrico Ajello have a difficult path ahead of them: cuts on staff and closings of offices are already on the horizon, already budgeted by the industrial plan of the former CEO, Vincenzo De Bustis. The executive passed a decree on 15 December to recapitalize the Apulian institution with 900 million euros, even if the text risks incurring the ire of the EU Antitrust which, for now, chooses the path of prudence but, as underlined by European Commissioner for Competition, Margrethe Vestager, is ready to intervene. "The intervention approved today by the Interbank Deposit Protection Fund, which follows the commissioner decided by the Bank of Italy and the subsequent government decree to allocate 900 million euros, is the third fundamental pillar to save the Banca Popolare di Bari - comments the general secretary of Fabi, Lando Maria Sileoni -. Thanks to this set of measures, the stability of the group is ensured and employment is protected, giving serenity and confidence not only to 3,200 employees, but also to all customers " .
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30 December 2019The hole was too big, an important move was needed immediately. Here then, for Banca Popolare di Bari, the annus horribilis ends with the help of the Interbank Deposit Protection Fund, which immediately disburses 310 million euros. The Fitd, which unanimously approved the extraordinary allocation, underlines how "the intervention will be carried out through a payment in the future capital increase of the bank, and constitutes an anticipatory measure in the context of a large capital strengthening project of 1.4 billion euros, to be realized in the coming months ". Attention, however: the Fund will contribute to the maximum amount of 700 million, "suitable for pursuing the recovery and revitalization objectives indicated by the commissioners", while the other half will be allocated by Mediocredito centrale, a subsidiary of the Ministry of Economy. The input from the Conte government was very clear: to immediately secure the foundations of the institute for 2020 without the nightmare of the crash. The Fund, concludes the note issued in the evening, assures the "extraordinary commissioners of their support in the strategic and managerial action to be taken". Antonio Blandini and Enrico Ajello have a difficult path ahead of them: cuts on staff and closings of offices are already on the horizon, already budgeted by the industrial plan of the former CEO, Vincenzo De Bustis. The executive passed a decree on 15 December to recapitalize the Apulian institution with 900 million euros, even if the text risks incurring the ire of the EU Antitrust which, for now, chooses the path of prudence but, as underlined by European Commissioner for Competition, Margrethe Vestager, is ready to intervene. "The intervention approved today by the Interbank Deposit Protection Fund, which follows the commissioner decided by the Bank of Italy and the subsequent government decree to allocate 900 million euros, is the third fundamental pillar to save the Banca Popolare di Bari - comments the general secretary of Fabi, Lando Maria Sileoni -. Thanks to this set of measures, the stability of the group is ensured and employment is protected, giving serenity and confidence not only to 3,200 employees, but also to all customers " .
