After the avalanche of yes recorded at the shareholders ‘ meeting of Banco Popolare of Verona, Bpm has approved the merger with the support of 71,79% of the members present. In favor of the merger have expressed 7.314 members, opponents were 2.731, abstentions 142 while 11 did not vote. To approve the merger served the majority of two-thirds of the votes cast, therefore, exceeded the limit by about 500 votes: after the official communication of the outcome, a big, long round of applause surged from the room of the meeting, held at the FieraMilano Rho.
Also Popular Milan says yes to merger with the Bank: the birth of the third Italian bank
The assembly of members, which began around 9.30 am, it lasted almost 7 hours. As was said, the shareholders ‘ meeting of Banco Popolare has voted almost unanimously (99.5% up), yes to the transformation in Spa and the merger. Yes he got 23.683 votes, against 118 votes against and 11 abstentions. “Definitely in the future, but I think far enough, we will be able to be a unifying center,” but “our operation is so complex that today we do not have other distractions or other target. We don’t look at anything else, let us do well what we need to do”. He said the managing director of Bpm), Giuseppe Castagna, at the end of the shareholders ‘ meeting that approved the merger with Banco Popular. “The day has been particularly beautiful for all of us, he added, See more than 10 thousand members in the assembly do not happen every day and it is nice that an operation so important was strongly supported by all the colleagues of the group. I am very happy with the participation and the outcome”.
Chestnut has then widened the speech to the entire Italian banking system, pointing out that to be among the first supporters of the positive solution of all the difficult situations that the banking system is highlighting. We made our – claimed – we did see that this is a Country that can assist you by itself, is not a country that we must save”. Chestnut has then admitted that the future Tour Bpm will be scalable, in the event, however, “less probable” than it would have been for a Bpm stand alone: “I Think that anyone in a global market is exposed to large acquisitions – have you noticed in the press conference – the two of Us put together worth 4 billion and amount of warming is not impossible, but certainly less probable than it would be if the Bpm was sat alone, with 1.8 billion of market capitalisation, its performance already reached, and its industrial plan already made”.
Tour Bpm: the numbers of the third Italian bank
With the favourable vote of the shareholders of the merger, the new entity banking Banco-Bpm has paved the way. From 1 January 2017, the aggregate will be in effect and the institution will become the third bank in the Country – after UniCredit and Intesa Sanpaolo – with a surplus of over € 171 billion, 4 million customers, 2.467 branches, about 25 thousand employees and almost $ 120 billion in loans. The project has had a "gestation period" of seven months before coming to the assemblies joint of Verona and Milan. In march, after at least three months of analysis, negotiations and "we are on the good road", has been signed the first memorandum of understanding between Bpm and Banco Popolare, greeted with favor by the same minister of Economy and Finance, Pier Carlo Padoan.
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