"We are not here to save anyone, we are a private company, at most we are here to evaluate value creation operations".
These are the unequivocal words pronounced by the managing director of Ubi Banca, Victor Massiah, answering a question from a shareholder
on the hypothesis of the acquisition of three of the four "good banks" (Etruria, Banca Marche and Carichieti) during the extraordinary meeting which approved the creation of the single group bank through the incorporation of seven subsidiaries. The green light came from 91,8% of the capital present. 0,02% against, 8,2% abstained. 37,4% of the bank's capital took part in the vote.
“If there is no possible creation of value – continued the manager, without making any explicit reference to the good banks – we don't carry out the operation. We don't have a mission to save anyone, but to create as much value as possible for shareholders."
Massiah also recalled that UBI's solidity, also in terms of incidence of NPLs, which is "the lowest in terms of market percentage among the major competitors. Also for this reason - he concluded - we are not subject to rescue but we are the subject of requests for rescue or requests for intervention ".
In this context, the excellent performance of the UBI share on Piazza Affari should be underlined in the footsteps of the entire banking sector. A few minutes after the closing, the shares gained 4,1% to 2,336 euros.
