Progress on the merger between Banca Popolare di Milano and Banco Popolare, which is not hindered by the tensions of recent days on securities in Piazza Affari. On the stock market this morning, the shares of the bank in Piazza Meda recorded a decrease of 3,66% to 0,31 euros, while the shares of the Verona institute fell by 4,07% to 1,95 euros. A worse performance than the Ftse banks sector index which falls by 2,67%.
As regards the operational plans on the merger, words of reassurance come from Giuseppe Castagna, the managing director of Bpm who will also lead the future group. “The merger is proceeding very well, we are on time for everything”, Castagna said on the sidelines of a conference on NPLs organized by Prelios, “we are calm on the plan approved by the ECB which confirms that we have that plan and that plan remains and therefore we are also comforted despite these market disturbances”. Regarding the meeting that Castagna would have had yesterday in Frankfurt with Daniele Nouy, president of the ECB's supervisory board, the banker declined to comment, adding however that "I tell you that I am absolutely calm that our plan is the one approved by the ECB at September".
