Bper Banca acquired 100% of the share capital of Nuova Cassa di Risparmio di Ferrara (“Nuova Carife”) from the National Resolution Fund for the symbolic price of one euro, against group shareholders' equity of 153 million euro. This is what we read in a note released on Thursday morning by Banca Popolare dell'Emilia Romagna.
The transaction involves the reduction of the Bper Banca Group's NPL ratio estimated at around 50 bps thanks to the quality of the Nuova Carife loan portfolio, consisting almost exclusively of performing positions. Expected a marginal impact on the fully loaded consolidated Cet1 ratio of the Bper Banca Group.
The operation, continues the note, has a solid industrial and financial basis and an extremely low execution risk thanks also to the geographical proximity of the provinces of Modena (where Bper Banca has its general management) and Ferrara and the limited relative size of Nuova Carife.
