The maxi recapitalization of 50 million of Banca del Fucino, the oldest private bank in Rome, will be completed by the end of January, according to Radiocor. The shareholder family will fully bear the weight: the Torlonias who at the end of 2016 had already made a non-repayable payment of 30 million. According to official documents (the recapitalization has never been announced, in line with the total confidentiality imposed by its deus ex machina, the recently deceased Prince Don Alessandro Torlonia), the bank approved the recapitalization in August following input from the Bank of Italy which subjected it to a lengthy inspection, which began last February and ended in July with the request to recapitalize. Banca del Fucino closed the 2016 financial statements with a loss of 47,54 million which was affected by draconian adjustments to non-performing loans: over 140 million (86 million the previous year) of which 120 million non-performing. Today the bank is chaired by 38-year-old Alexander Francis Poma Murialdo, nephew of Don Alessandro, and led by the general manager, Giuseppe di Paola.
The mourning that struck the noble Roman family also slowed down the execution of the increase, approved in August: the death, at the end of December, of Don Alessandro Torlonia, the bank's 92-year-old honorary president, after having been president for various decades, starting from 1947. Prince Torlonia in his last year of life did not hesitate to support his bank, obtaining the almost unanimity of the family
Società Romana di Partecipazioni Sociali, a real estate company controlled through Torlonia Partecipazioni spa, was the vehicle of the first support: the 30,4 million non-repayable paid at the end of 2016 to be allocated 'to the primary assets of the bank computable in Tier1'. A payment made indispensable by the fact that at the end of that year Banca del Fucino had a Tier1 of 7,7% below the 8,5% threshold set by the Supervisory Authority. The recapitalization, again according to the official documents, had to be included in a range between 30 and 60 million which was then set at 50 million. Since 2016, Banca del Fucino has changed its business model by focusing on the financial boutique model, as Poma Murialdo himself declared in an interview with the Radiocor agency. The 2016 financial statements account for the change of course initiated with the launch of private banking and the greater commercial drive that has allowed assets under management to leap from 643,3 million in 2015 to 845 million in 2016. To overcome the difficulties associated to impaired loans Banca del Fucino then reorganized the credit area, revised its business model, and strengthened the top management with the appointment last April of the acting Deputy General Manager Andrea Colafranceschi.
