Banco Popular, the shareholders’ meeting is also an ECB observer. Saviotti: merger with BPM will bloom soon – Il Sole 24 Ore

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This article was published March 19, 2016 at 11:01 hours.
the last change is the March 19, 2016 at 11:35.

It started in Lodi the annual meeting of Banco Popolare, with the agenda the ‘approval of the budget 2015. Since shareholders context particularly expects an update on the state of the course for any marriage to BPM, a day after the transaction has received the blessing of both the Economy Minister Pier Carlo Padoan that the prime minister Matteo Renzi, who are exercising their moral suasion to ensure that the management of the two institutions are able to overcome obstacles and carry through the operation.

all’assise is present as an ‘observer’ Ilze Rainska, joint supervisory team coordinator of the division Significant Bank Supervision of the ECB. “I can not comment,” he said Rainska rejecting the questions of the journalists, to whom he has just stated to participate for the first time as an observer in the meeting of the Bank.

A friendly welcome address was delivered dall’a.d. Banco Popolare, Pierfrancesco Saviotti, observer ECB Ilze Rainska. “A special greeting to Mrs. Rainska, which represents the ECB and I thank him for his presence: welcome to Lodi Rainska,” she hailed by Saviotti of the meeting stage.

The “flowering” of the merger between Banco Popolare and Banca Popolare di Milano “should arrive well in a reasonably short time,” said Saviotti, speaking to members at the meeting. “The success of the work – said – is not yet granted, but we’re getting closer and closer to the demands of the ECB and it is reasonable to think that we can facilitate the successful conclusion in the interest of the entire system. If they are roses bloom, I feel like saying that the bloom is expected to arrive, and I hope also in a reasonably short time. ”

“Even ECB President Mario Draghi said that the supervisory board is fully aware that to properly handle non-performing loans it takes years,” also said the CEO of Banco Popular, sottolinendo that the situation of the Banco suffering “is under control.”
“We are well aware that the management of impaired loans take a long time and that is what we are doing: we handle them carefully with the sole aim of reducing, but we can not delete them at once,” he said Saviotti.

At the meeting, which is held on second call, and has as a main item on the agenda the approval of the budget 2015, have reached about 50 thousand applications for accreditation, including proxies. As a major shareholder with a stake of more than 2% figure only CariLucca Foundation, with 2.891%, according to the list read at the meeting by the Chairman Carlo Fratta Pasini. According to preliminary data, there are now 2,211 to 10,638 physically present and represented at the meeting in person or by proxy.

Also Lorenzo Guerini room, spokesperson and deputy secretary of the Democratic Party, which speaks of “significant attention” on possible union with BPM. “I am a member, I was mayor of this city until three years ago, I always come,” he said when asked about his presence. “After the reform of the popular system, with the aim of strengthening of the Italian banking system, an indication of a possible merger between the Bank and the BPM it is something that we look positively compared to the strengthening of the banking system.”

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