trending Market Intelligence /marketintelligence/en/news-insights/trending/yvfu3wvMKf6tJNlSvTtxUQ2 content esgSubNav
In This List

Banco Popolare shareholders approve €1B capital raise for BPM merger

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks

Blog

Basel Framework- Utilizing data to analyze the capital position of European banks.


Banco Popolare shareholders approve €1B capital raise for BPM merger

Banco Popolare Società Cooperativa's shareholdersauthorized the lender's planned €1 billion capital increase during a May 7 extraordinaryshareholder meeting.

Banco Popolare CEO Pier Francesco Saviotti told reportersthat the capital strengthening, which is part of the between the bank and ,is expected to be carried out by the end of June, Reuters reported the sameday.

The capital raise is intended to fulfill regulatoryrequirements aimed at the new merged entity, including beginning operationswith a sufficient capital level and enabling the reduction of nonperformingloans.

Banco Popolare noted that it entered into a pre-underwritingagreement with Mediobanca - Banca di Credito Finanziario SpA and Bank ofAmerica Merrill Lynch, which will act as sole global coordinators and bookrunners for the capital increase.