Ibl Bank signed an agreement to acquire the entire share capital of Antonio Capasso Bank. The Ibl group made it known in a note, specifying that the operation is part of the company's "strategic evolutionary path" "towards greater business diversification".
The acquisition - which has yet to receive the green light from the Bank of Italy, expected by the first half of next year - provides for "the maintenance and growth of employment levels and a strengthening of the territorial presence aimed at greater value creation and commercial development in the retail segment”, continues the note. IBL Banca is active in the sector of salary-backed loans with 54 branches and over 700 employees,
In the first nine months of this year, Ibl Banca achieved a net profit of 21,1 million euro, with loans growing to over 3,2 billion euro and a Tier 1 ratio of 18,2% and a TCR of 18,7 .30%. As at 2020 June 1, Banca Capasso recorded a Tier 47,66 ratio of 32%, with over 60 million euros of own funds and loans to customers of approximately 1912 million euros. With the acquisition, the bank – founded in XNUMX – opens up a more digital-oriented development path.
Last week IBL announced the 100% purchase of the Discount Bank and Current Accounts. An investment that represented "the first step in the implementation of a strategy which envisages, in the medium term, the expansion of the operations of the Ibl Banca group also through business diversification and a greater level of territorial penetration".
Lastly, the territory will undoubtedly benefit from the new consolidation between the two operators because the grandchildren of the founder, Salvatore and Rosa Capasso, Ferdinando and Domenico Parente, intend to set up a Foundation named after Antonio Capasso, which will support the new Bank and which could become “a beacon for young people, a modern factory where it is possible to invest in knowledge”
In the deal the shareholders of Banca Capasso Antonio were assisted by Negri-Clementi Studio Legale (Annapaola Negri-Clementi and Arianna Leonardelli) while IBL Banca was assisted by GOP (Alessandro Giuliani and Nicola Zito) for the legal aspects and by KPMG in the role of Financial Advisor..
