Closure of 230 branches, half of which within this year, e personnel cuts for 1.300 units by 2021. These are the main interventions for cost reduction included by the Bper group in the 2019-2021 strategic plan published on Thursday morning.
The rumors about the plan had pushed the stock on the Bper Stock Exchange to close the session with an increase of 2,7%. Realizations were triggered after the official release of the document, but they were short-lived: by mid-morning on Thursday, Bper shares were once again in positive territory (+0,3%, at 3,628).
In detail, the reduction in personnel is foreseen 1.700 total releases linked to the establishment of a Solidarity Fund, with a reduction in the number of collaborators (about 1.500 employees) and a reduction in the use of temporary work (about 230 units). At the same time, it is expected the recruitment of about 400 people "in order to acquire new skills and support generational turnover", informs the Bank.
As for future financial statements, Bper aims at a net profit of 450 million in 2021, with a RoTE of around 10%. On the capital side, a strengthening of the capital is envisaged with a CET1 ratio fully phased in 2021 in the 12,5% area and an average dividend payout over the period of the plan of approximately 25%. Finally, an acceleration of de-risking is on the way with a 2021 gross Npe ratio expected below 9%
The Bank also specifies that the plan will be developed starting from the extraordinary operations announced in recent weeks: the purchase of Unipol Banca and of the minority shares of Banco di Sardegna, the sale of a portfolio of non-performing loans for around 1 billion and the acquisition of control of Arca Holding.
In particular, the new strategic plan provides for the reduction of legal entities through the incorporation into Bper Banca of Unipol Banca, Cassa di Risparmio di Bra and Cassa di Risparmio di Saluzzo.
“We are certain and confident that we will achieve the targets of the plan with the aim of creating value for all shareholders”, he commented, Alexander Vandelli, CEO of the Bper group, underlining how the group is the sixth bank in Italy in terms of total assets, with over 2,7 million customers.
