The French banking group BPCE has once again devalued the stake held in Banca Carige. This is what emerges from the documentation on the quarterly accounts of the transalpine bank, reported by Radiocor. The Bpce, a shareholder of Carige with 9,98%, recorded in the second quarter "a lasting depreciation of the investment in the Genoese institute, for -12 million".
Already in 2012, the Bpce had written down the share by 190 million euro, as indicated in last year's financial statements, also reporting that the parent company transferred the Carige shares to the subsidiary Bpce Iom, which owns the equity investments in foreign banks, at the average price of 1,23 euros per share.
Carige shares are currently just above 0,40 euros. On 2 August, it was precisely the resignations from the board of directors of the two directors who represent the BPCE in Carige, Philippe Garsuault and Philippe Wattecamps, that caused the board to decay, as they came in the wake of the resignations of the 6 directors representing the Carige Foundation. The reasons are the same: the need "to give a new structure to the governance of the Bank, in compliance with the general supervisory guidelines, without prejudice to the shared capital strengthening strategies of the same".
The "mass" resignations have made clear the clash of the main members of the Genoese institute with the president Giovanni Berneschi. The BPCE is the second largest French banking group and is made up of 19 cooperative banks, 17 savings banks, Natixis and Credit Foncier. In the second quarter it achieved a net profit of 772 million euros, an increase of 15%.
