On the privatization of the share of Mps in the hands of the Treasury"we are open to any hypothesis by operators interested in making a purchase: we will evaluate with extreme attention and caution, in the due time, every possible offer, having in mind the protection of personnel, the brand, the relationship with the territory". The Economy Minister said, Daniel Franco, during a hearing before the parliamentary commission of inquiry into the banking system.
As for the hypothesis of an offer from a foreign bank, “from our point of view – continued the minister – the balance between giving and receiving is important: foreigners in Italy but also Italians abroad. In itself, the fact of having a plurality of subjects, including foreigners, I believe can be positive if this increases the offer of services: the important thing is that the country maintains important decision-making centers and that our companies are present symmetrically at the abroad".
The times for the privatization of Mps
Franco then reiterated that the sale of the public share in Mps "will be agreed" with the European Commission "a new deadline, which we hope will give us wide margins. It is important that they allow us to find a solution that is suitable. We had negotiations with UniCredit last year and we concluded that what was being offered to us was not adequate. We must not sell out."
Pop Bari: the focus is on the return to profitability
On the side of Popular Bank of Bari, the number one of the Treasury reiterated that “there is no deadline” for the sale of the stake controlled by the State: “It has been planned a path back to profitability conditions, closed which, if there are any offers, they will have to be evaluated: at the moment there don't seem to be any purchase hypotheses e I don't expect events any time soon, but the MEF's interest remains in having companies rooted in the territory that function and provide services".
The sale of the public share, therefore, "assumes the overcoming of the current difficulties", Frano said again. “In 2021 the bank recorded an operating loss of around 170 million”, showing “as a critical point” the ratio between costs and revenues above 100%. It is therefore about "a bank heavily burdened with costs and this obviously requires cost reduction and a parallel increase in revenues”.
Italian banks: holding up well, exposure to Russia of 29 billion
Finally, with regard to the Italian banking system as a whole, according to Franco “it shows indicators of satisfactory solvency and profitability, with substantially stable credit quality. In 2021, the profitability of banks has significantly improved, with the capital ratio stable at a high level”.
The direct exposure of Italian banks in Russia "is relatively limited - concluded Franco - equal to 29 billion euro".
