The top management of the MPS bank updated the representatives of the Foundation, a historical shareholder of the bank even if today it owns only 2,5% of the capital, on the initiatives taken to fill the capital deficit that emerged with the ECB's stress tests and to update their development plans.
A note from the Foundation gives news of the meeting held with MPS President Alessandro Profumo and CEO Fabrizio Viola and underlines how the Administrative Deputation, led by President Marcello Clarich, has “confirmed its appreciation for the work that Dr. Perfume and Dr. Viola are carrying out for the finalization of the Capital Plan and for the updating of the Bank's Plan in the light of the changed reference scenario”.
MPS is waiting for a green light from the ECB to its plan which provides for a 2,5 billion increase to fill the 2,11 billion shortfall. The bank has given a financial calendar in which the board of directors is expected to approve the financial statements on February 11, with a subsequent approval of the draft budget on March 4.
The shareholders' meeting, which in first call is scheduled for April 14, will also be called upon to renew the corporate bodies. The Foundation has a shareholders' agreement with the BTP Pactual and Fintech shareholders to decide on the renewal of the bank's top management. The pact controls 9% of MPS.
The Foundation has entrusted its advisor Credito Fondiario with the task of analyzing the Capital Plan of the Mps bank to decide what to do in view of the next capital increase which must be carried out by July.
