• Latest
  • Trending
All options to be explored by Italy’s Pop Sondrio

All options to be explored by Italy’s Pop Sondrio

Global economies struggle as oil supplies tighten, volatile stakes

Oil prices see a surge, supply concerns to aid in the cause

S & P 500 ends at record high as Wall Street rises

Wall St futures tumble, dollar holds its ground against tides

OPEC+ members face issues of tight oil supplies

OPEC+ members face issues of tight oil supplies

U.S. energy companies shudder after economic and climate warnings

U.S. energy companies shudder after economic and climate warnings

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank strikes Gold at Technnovation Awards 2022

Russia evades default through sheer force of will; Kremlin speaks

Russia evades default through sheer force of will; Kremlin speaks

Global economies struggle as oil supplies tighten, volatile stakes

G7 fixate on stricter sanctions to impose on Russia, oil rates wobble

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank empowers local youth with People’s Spark Entrepreneurship Development Programme

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

Russia may be driven into default, Eurobonds due in payment

Russia may be driven into default, Eurobonds due in payment

Asia shares falls on worries over inflation, Fed outlook

An insightful glimpse of the market during the inflation period

Russia’s Sovcomflot managed to strike deals despite sanctions

Russia’s Sovcomflot managed to strike deals despite sanctions

Global Business Review Magazine
Thursday, July 7, 2022
Nominate Here
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
No Result
View All Result
Global Business Review Magazine
No Result
View All Result

All options to be explored by Italy’s Pop Sondrio

All options to be explored by Italy’s Pop Sondrio

Italy’s Banca Popolare di Sondrio’s CEO said that it is open to exploring all options for its future. This is after shareholders approved long-delayed governance changes that could open the mutual bank up to a merger. Yet Mario Pedranzini stressed that, while M&A was an option, Popolare di Sondrio was a healthy lender that did not need a merger to grow and remain profitable. He told the media that in the future they will explore all the opportunities that the market can offer. This is not necessarily M&A.

Nestled in the mountains north-east of Milan, Popolare di Sondrio is the last of 10 large mutual banks, that is targeted by a 2015 government reform to yield to changes aimed at improving governance. Under Italian rules, the mutual status gives shareholders one vote. Investors in Popolare di Sondrio approved shedding the bank‘s mutual status to turn it into a joint-stock company. The 2015 reform obligated Italy’s so-called “popolari” lenders with more than 8 billion euros ($9 billion) in assets. And that is to become ordinary joint-stock companies within 18 months.

YOU MAY ALSO LIKE

People’s Bank strikes Gold at Technnovation Awards 2022

People’s Bank empowers local youth with People’s Spark Entrepreneurship Development Programme

The mandatory changes were however put on hold pending the outcome of court cases.  While Popolare di Sondrio has long guarded its independence and local roots, it is viewed by analysts as a well-managed bank and a prime merger partner. The bank is, for example, widely seen by bankers and analysts as a possible partner for bigger rival BPER Banca, whose top shareholder UnipolSAI is also an investor in Pop Sondrio with a 9.5% stake. The governance changes will allow UnipolSAI. This is to wield an influence corresponding to the size of its stake. Popolare di Sondrio Chairman Francesco Venosta said that the bank was not in any M&A talks and did not consider UnipolSAI a “privileged” party in such discussions. Cimbri said that BPER was “very well placed” if Popolare di Sondrio were to look for a merger.

Tags: BankingItalyPop Sondrio
ShareTweetShare

Search

No Result
View All Result

Recent News

Global economies struggle as oil supplies tighten, volatile stakes

Oil prices see a surge, supply concerns to aid in the cause

S & P 500 ends at record high as Wall Street rises

Wall St futures tumble, dollar holds its ground against tides

OPEC+ members face issues of tight oil supplies

OPEC+ members face issues of tight oil supplies

U.S. energy companies shudder after economic and climate warnings

U.S. energy companies shudder after economic and climate warnings

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank strikes Gold at Technnovation Awards 2022

Russia evades default through sheer force of will; Kremlin speaks

Russia evades default through sheer force of will; Kremlin speaks

Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • Oil prices see a surge, supply concerns to aid in the cause
  • Wall St futures tumble, dollar holds its ground against tides
  • OPEC+ members face issues of tight oil supplies
  • U.S. energy companies shudder after economic and climate warnings
  • People’s Bank strikes Gold at Technnovation Awards 2022

Categories

  • Banking
  • Business
  • Events
  • Finance
  • FinTech
  • Tech
  • Videos
  • About
  • Nominate
  • Privacy & Policy

© 2022 Global Business Review Magazine - All Rights Reserved.

No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

© 2022 Global Business Review Magazine - All Rights Reserved.

Go to mobile version