Banco Popolare has not yet received the final results of the ECB's investigations. The bank itself specified this in a press release issued before the markets closed: "With reference to news reported today by the specialized press regarding the well-known inspections conducted by the ECB on the Group's management of credit and counterparty risks as at dated 31 December 2015, it is deemed necessary to specify that, as of today, Banco Popolare has not yet received the definitive results of the investigations which will be communicated to the Bank by the Joint Supervisory Team following the usual discussions with the competent functions of the ECB" .
Moreover, Banco Popolare recalls, as represented on several occasions, that during the month of June 2016 the capital increase of approximately 1 billion has been completed, destined to be reflected in extraordinary provisions by the Bank in the amount of approximately 1,5 billion during the current year. "As part of this process of raising the coverage ratios - explains the note -, Banco Popolare has already made significant extraordinary adjustments as at 30 September 2016 and by 31 December 2016 will complete the additional provisions of an extraordinary nature envisaged in the plan of integration. The programmed interventions of an extraordinary nature (combined with the provisions envisaged on an ordinary basis which already amount to 640 million as at 30 September 2016) take into account the discussions with the inspection team and will make it possible to achieve the increase in the level of coverage defined in agreement with the ECB".
A few minutes from the closure of Piazza Affari, the title Banco Popolare loses 1,6% at 1,843 euros per share, on a particularly negative day for the entire banking sector.
