It granted loans to customers in exchange for the purchase of its own shares: the anomalous behavior of Popolare di Vicenza was discovered by an inspection by the ECB which revealed that the loans in exchange for the purchase of shares in the bank chaired by Gianni Zonin are amounted to 975 million euros and required adjustments and provisions.
Despite these casual practices, the accounts are crying: in the first half of 2015 the bank suffered losses of 1,05 billion euros even if "mostly resulting from non-recurring valuation components".
The state of health and above all the capitalization of Popolare di Vicenza, which will soon have to transform into a joint stock company as a result of the Renzi reform, are not the best and this is why yesterday the bank's board of directors approved a new capital increase from 1,5 billion to be made by the spring of 2016. With how much joy of small members it is easy to imagine.
