The restructuring of southern
Italian lender Banca Popolare di Bari is expected to be
completed "by mid-year", Economy Minister Roberto Gualtieri told
the Lower House's finance commission on Friday.
Gualtieri said the plan was to transform the bank into a
joint-stock company (Spa) with "the coverage of losses that will
emerge".
The bank will be recapitalized by Mediocredito Centrale (MCC)
and by the Interbank Deposit Protection Fund (FIDT) as well as
by private investors that will "hopefully be identified", the
minister said.
The lender's transformation into a Spa and the
recapitalization by MCC and FIDT will have a significant impact
"both on the value and on the dimensions of the participation of
current stakeholders, while no impact is expected for bank
account holders, I am happy to deliver this message", said
Gualtieri.
The minister also said he hoped that FITD will be able to
consider some type of incentive for small investors and
solutions for ongoing controversies.
Premier Giuseppe Conte's government in December approved a
900-million-euro bailout of Banca Popolare di Bari after the
lender said it urgently needed a bid capital increase and was
put into administration.
The money was allocated to Invitalia to finance Mediocredito
Centrale (MCC) and enable it to buy a stake in Banca Popolare di
Bari.
ALL RIGHTS RESERVED © Copyright ANSA
