Banca del Fucino, a Roman institute founded by the Torlonia princes and led by the same family, has chosen the Barents Group "for further future development in the high-end private banking and wealth management sector". This is what we read in a press release from the Bank.
“The Family and the Barents Group have agreed on a joint development plan – continues the note – The operation provides for the signing of a Memorandum of Understanding with the Barents Group and the granting of an exclusive right to complete the due diligence activities. A further capital increase of 50 million euros and the deconsolidation of the entire portfolio of 300 million euros of non-performing loans (NPE) are preliminarily envisaged”.
The five-year business plan that will be developed with the Barents Group "aims to strengthen growth in private banking - explains the institute - also through the aggregation of other companies in the sector, the entry of new professionals active in the management of large and the possible listing of the Bank on the Stock Exchange”.
Satisfaction from the President of the Institute: "Strengthened by the history of the Bank, and by the skills, financial power and credit rating of A (Excellent) with stable outlook of the Barents Group, we believe in a future that sees more and more specialization of our reality in the high-end private and wealth management sector – commented Alessandro Poma Murialdo – The family has already supported an increase of 30 million euros and this new step will allow us to carry on business combinations in the sector. We are in agreement with the internal management and with the Barents Group and we believe that the further strengthening of capital and the total deconsolidation of non-performing assets will allow for a strong acceleration in the Bank's growth”.
