Bper loses ground in Piazza Affari. After last month's rally, which had earned the Popolare Emiliana almost 6% on the Stock Exchange, the news of the shareholders' go-ahead for the 750 million capital increase cools the title. The shares of the Emilian institute are in fact the most penalized of the Ftse Mib in the mid-morning: around midday they drop 1,8% to 8, 665 euro.
In fact, on Saturday the shareholders' meeting gave the go-ahead for the recapitalization process, which is expected to start by the end of June and probably be completed by the end of July. The managing director Alessandro Vandelli said he was confident for a progressive return to the dividend as well as for the possible participation from 2015 of Bper in a new process of consolidation of the Italian banking sector.
"The capital increase will allow Bper to rise to 10,44% of Core Tier 1 level which can be further increased in 2015 once the Bank of Italy has validated the internal models - writes Intermonte Sim - We expect that Bper in the light of the capital more solid ratios return to pay the dividend as early as 2014”. Bper widened the decline during the morning also penalized by the trend reversal of the other banks: Bpm drops 1,2%, Banco Popolare -1%.
