Given the successful outcome of the capital increase operation, the Monte dei Paschi di Siena Bank can resume at distribute dividends and it will be sufficient for you to obtain the prior authorization from the Supervisory Authority.
A note from the Sienese bank says so in relation to the go-ahead given by the bank European Central Bank together with the final decision regarding the capital requirements to be respected: for 2023 the ECB has established Srep capital requirements for MPS (prudential review and assessment of capital) "in line with those of 2022 and already largely complied with".
The Mps share today in Piazza Affari is 1,95 euros, down 0,91%.
On 4 November, the Sienese bank has completed the operation capital increase of 2,5 billion euro launched on 17 October and closed with a coverage of 96,3%.
The eight guarantor banks will become shareholders led by Mediobanca, Credit Suisse, BofA, Citi, Credit Suisse, and the bookrunners SocGen, Sitfel, Santander, Barclays, plus Algebris.
The new MPS shareholding will see the MEF at 64,2%, the old market shareholders at 10%, the key internal investors at 20%, Foundations and Banks at around 4% and the banks under 4% but with their actions destined to be valorised even in the short term.
The capital requirements for 2023 of Monte dei Paschi
In detail, in 2023 for the MPS Group - at a consolidated level - a total SREP Capital Requirement (TSCR) of 10,75% is envisaged, which includes: - a minimum requirement for own funds - Pillar 1 (' P1R') of 8% (of which 4,50% in terms of CET1) and – an additional Pillar 2 requirement ('P2R') of 2,75%, which stands at same level that was required for 2022, to be held at least 56,25% in the form of primary class 1 capital - CET1 - and 75% in the form of tier 1 capital - Tier 1.
The overall minimum requirement in terms of total capital ratio, obtained by adding a Combined Buffer Requirement (CBR) of 2,75% to the TSCR is 13,50%. The overall minimum requirement in terms of CET 1 ratio is equal to 8,80%, the sum of P1R (4,50%), P2R (1,55%) and CBR (2,75%); the overall minimum requirement in terms of Tier 1 is 10,82%, inclusive of P1R of 6%, P2R of 2,06% and CBR of 2,75%. THE capital ratios of the Bank at consolidated level as at 30 September 2022, taking into account the capital increase and the related costs, are equal to: 15,7% for the Common Equity Tier 1 ratio, 15,7% for the Tier 1 ratio, 19,5, 2022% for the Total Capital ratio, calculated by applying the transitional criteria in force for 14,7; 1% for the Common Equity Tier 14,7 ratio, 1% for the Tier 18,5 ratio, 2% for the Total Capital ratio, calculated by applying the fully loaded criteria. As regards Pillar II Capital Guidance (P2,50G), it is confirmed at 1%, to be met with Common Equity Tier XNUMX.
