The recapitalization that Banca Popolare di Bari needs is worth 1,4 billion: it was quantified by the Board of the Interbank Deposit Protection Fund, which at the request of the extraordinary commissioners of the Bari bank in the meantime, it approved an immediate intervention, for a future capital increase, of 310 million. The capital strengthening will then have to be completed in the coming months - explains the note from the Fund led by Salvatore Maccarone - also in light of the provisions of the Government decree (142 of 2019). The Apulian bank has been a receiver since mid-December and the Fund has already established a commitment to participate, for its part, up to a maximum of 700 million, an amount considered suitable "to pursue the bank's recovery and relaunch objectives" assessed on the basis the guidelines of the business plan prepared by the Commissioners and the analyzes carried out by the Fund with its legal and financial advisors.
Then it's up to Mediocredito Centrale: the commitment of the bank controlled by Invitalia, which will have to sign a framework agreement with the Fund, will in turn be at least 700 million. This will then be accompanied by a drastic derisking plan, which envisages the sale of 2 billion euro of non-performing loans and a clear reduction in the bank's assets and liabilities and at the same time a "slimming cure" of the branch network with the consequent exit of about 900 employees. The crux will be the Popolare's assembly, which will have to approve this recapitalization and recovery plan: in the event of non-approval by the shareholders, the only certain fact is that the Fund will lose the 310 million it paid on 31 December 2019 and which they are essential to bring the capital ratios back to the regulatory minimums (the commissioners had asked for a slightly higher figure, around 340 million) but the resolution of the Fund established to grant the minimum amount necessary to respect the ratios.
