Start of boom for the Banca Intermobiliare (Bim) stock on the Stock Exchange. At around 09:20 the shares jumped by 13,5% to 1,36 euros and recovering most of the losses of the last month, in which it had lost more than 14%. At 11 the title is in a volatility auction. It was then readmitted and the last contract marks a 14% increase. Then it came back to auction volatility. The performance is connected to the fact that a solution has finally been reached for the subsidiary Veneto Banca, of which a part of the assets and liabilities will enter the perimeter of Intesa, as part of the orderly liquidation.
Bim will be excluded from the transaction and will flow, together with the other assets and liabilities not sold to the Milanese bank, into a public vehicle created ad hoc. The latter will look for potential buyers for the institute, with the aim of obtaining the best possible price, as the market also expects. Meanwhile, BIM will be able to continue its operations in an orderly manner, ensuring the continuity of existing relationships with customers and will finally be able to concentrate on refocusing its core business on private banking, as established in the new strategic plan for 2020.
The institute led by Giorgio Girelli had already announced for some time its intention to leave the perimeter of the now former parent company Veneto Banca. The process had already started with the launch of a new information system.
