The European Central Bank has identified “serious and significant deficiencies” in the governance of Banca Popolare di Sondrio (BPS), one of the credit institutions in the center of the Italian bank Risiko, due to a bper’s purchase offer.
The ECB He has given Supervisory Measures against BPS, at the end of a six -month check. Particularly delicate is the position of 33 bank debtors, which the ECB would like to downgrade after the analyzes carried out on the BPS accounts.
The ECB against Banca Popolare di Sondrio
The report published by the ECB refits an investigation held for six months, between 17 October 2022 and 17 March 2023. BPS received the final document on March 7, five days after the approval of the new industrial plan. Frankfurt’s conclusions are net and very hard.
“They exist serious deficiencies in the governance framework of the supervised subject. The decision -making bodies of the supervised subject have not managed to establish a complete and reliable complete and reliable complete internal control framework that individuals, measures, monitors and evaluates credit risks adequately “reads the document.
The ECB has also spoken of “an insufficient risk management identified, which could expose the supervised subject to a potential overestimation of their funds. Prudential concerns on the overall framework for credit risk and the adequate assessment of the riskyness of the credit portfolio “.
The question of the 33 debtors
Precisely on the credits that Banca Popolare di Sondrio boasts towards Some debtorsthe ECB has expressed the deepest doubts of the report: “The motivation behind the management of credit risk of these 33 debtors appears unusual if you take into account the acceptance of the reduction of additional value identified by the inspectors, however accompanied by the refusal to reclassify them to probable default” says the document.
There is talk of 33 companies or private individuals that BPS believes to be indebted from which he will be able to collect the money due. The ECB, on the other hand, does not agree with this classification, and asked the bank to consider the payment of these less likely debts. Hence the reclassification to “probable default” of credit.
Bper’s offer and banking risk
The ECB report on the Popolare di Sondrio comes a few days after the declarations of theBPER CEO Gianni Franco Papa, who reiterated that there will be no relaunch of the public offer of voluntary exchange launched by the credit institution of Modena.
“The price offered by Bper already expresses the intrinsic value of BPS, with a high prize, 6.6% On the Undisturbed Price of the day before the launch of the offer, which rises to 10.4% if you consider the previous three months “said Pope.
During the call with the shareholders on the occasion of the presentation of the results of the first quarter, Pope also stressed that the integration of the two banks, if the OPS should be concluded in a positive way, will be quick and effective. On relations with BPS, Pope has again opened to dialogue: “It’s like a tango, you dance in two“He said.
