Baps: ‘We’re keeping a close eye on the market; it’s a tricky start on the BdM, but we’re keeping our eyes peeled’

(Il Sole 24 Ore Radiocor) - Baps, a Sicilian bank formed through the merger by absorption of Banca Popolare di Ragusa and Banca Popolare Sant'Angelo, is always keeping a close eye on market developments and potential opportunities for mergers and consolidation. This includes the privatisation of BdM, formerly Popolare di Bari, a move described as ‘complicated’, however, and on which no decision has yet been taken. This was stated by the bank’s chief executive, Saverio Continella, in an interview with Radiocor.

The award presented to the Senate

The occasion was the presentation in the Senate of the Menichella Prize for Monetary and Credit Policy to the Banca Agricola Popolare di Sicilia. “Consolidation,” explained Continella, “is the result of the complexity of the current environment and the need to ensure ever greater compliance with the rules.” In particular, “consolidation offers local banks a major opportunity, provided they can operate efficiently.”

Consistency with the business plan

“Baps,” Continella continued, “is open to ‘market opportunities’; we are in a phase of consolidation and I believe that if something comes up, we will try to be ready. But it is important to remain consistent with the business plan we are implementing.” As for BdM, in particular, “it’s a very complicated situation; we’ll have to wait and see. It’s still too early to say.” Regarding the former Popolare di Bari, at the moment “we’re in the phase of non-binding expressions of interest, due by the end of the month, but I believe the whole process will be finalised after the summer. We are keeping a close eye on the system, as always.”