Bper, shareholders' green light for the capital increase for the Ops on Popolare Sondrio

Bper's shareholders' meeting approved with a plebiscite the capital increase to service the public exchange offer on Banca Popolare di Sondrio. In fact, 99.9% of the capital present, equal to 62.166846% of the share capital, voted in favour. All other items on the agenda were also approved with similar percentages, including the 2024 budget and the dividend of 0.6 euro per share.

"All proposals on the agenda were approved with a very large majority. We are grateful to our shareholders for their continued trust and support for the important strategic project related to the public exchange offer on Banca Popolare di Sondrio. The aim of the operation is to enable further growth and development for the Bank and to create more and more value for the benefit of all stakeholders in the territories in which we operate' Gianni Franco Papa, CEO of Bper.

In the extraordinary session, the shareholders' meeting approved the granting to the board of directors of the power, to be exercised by 31 December 2025, to increase the share capital, with the exclusion of pre-emption rights, for a maximum total amount of EUR 981,120,051.74, plus share premium, with the issue of a maximum number of 657,409,377 ordinary shares with no par value, with regular dividend entitlement and characteristics identical to those of the shares in circulation on the issue date. The issue price will be determined by the board, to be "released by contribution in kind as it will be at the service of the voluntary public exchange offer having as its object all the ordinary shares of Banca Popolare di Sondrio," reads the bank's press release.

In the ordinary session, however, the shareholders approved the 2024 financial statements, which closed with a net profit for the year of EUR 1.250 billion, and the proposed appropriation of profit, resolving to distribute a cash dividend of EUR 0.60, for a maximum total amount of EUR 853 million, with an ex-dividend date of Monday 19 May.

The bank's credit rating improves. S&P Global Ratings today revised upwards Bper's long-term and short-term issuer ratings from 'BBB-/A-3' to 'BBB/A- 2' and the long-term resolution counterparty rating from 'BBB' to 'BBB+'. The agency also confirmed the short-term resolution counterparty rating at 'A-2'. The outlook is stable. S&P Global Ratings upgraded the Stand Alone Credit Profile from 'bbb-' to 'bbb'.