Bper-Sondrio, with the merger 800 exits and 90 fewer branches
The road map foresees that already on 5 November the boards of the two banks will approve the integration project
by Luca Davi
Key points
Bper is wasting no time and is moving swiftly towards the merger with Banca Popolare di Sondrio. And it is planning exits for 800 people belonging to the group. The road map envisages that already on 5 November the Boards of Directors of the two banks will approve the merger project, without prejudice to "the application of the safeguards required by the regulations for transactions with related parties". On that date, moreover, the two banks are expected to approve the consolidated interim report as at 30 September 2025, respectively.
Obviously, the completion of the merger is subject to the approval of the merger project by the respective extraordinary shareholders' meetings, which, however, is a foregone conclusion. Ditto for the release of the authorisations required by the regulations by the ECB and Bankitalia. In conclusion, the timetable is confirmed and the entire process is expected to be concluded 'within the first half of 2026', as the bank emphasised yesterday. A message in line with that pronounced some time ago by CEO Gianni Franco Papa, who in an interview with Il Sole 24Ore had already anticipated that he wanted to 'aim to complete the merger by April 2026, with backdated to 1 January', and to 'present an update of the business plan within the six-month period'.
The merger, considered by Modena as a 'strategic lever to accelerate growth and maximise value creation for all stakeholders', promises significant benefits in terms of operational efficiency, cost synergies, and expansion of the commercial perimeter.
The aim is to integrate two realities with solid roots and similar banking cultures, creating a more competitive national operator capable of facing the challenges of the market.
Resource Management
The first concrete step along this path is the management of human capital. Bper's board of directors has given the go-ahead to a voluntary redundancy plan that will involve around 800 employees by 2026, partly through the use of the Solidarity Fund. The initiative, presented as an opportunity for 'generational change', will be built in close dialogue with the trade unions and aims to redesign the organisational structure in a more streamlined and efficient manner.
