'Sicily has its own bank', OK for the merger between popolari di Ragusa and Sant'Angelo

The shareholders' green light for the merger between Banca Agricola Popolare di Ragusa (Bapr) and Banca Popolare Sant'Angelo (Bpsa), which gives rise to the first Sicilian banking pole with the new name of Banca Agricola Popolare di Sicilia (Baps). Marking what Arturo Schininà, chairman of the board of directors of Popolare Ragusa, described as 'a historic moment for our bank and for the Sicilian territory' was the Bapr shareholders' meeting, which met on Saturday 21 with the highest attendance ever, approving the merger by incorporation of Bpsa on first call.

The operation, announced in April, has already obtained all the necessary authorisations. On Sunday 15, the shareholders of Popolare Sant'Angelo, a bank with headquarters in Licata (Agrigento) and some twenty branches between Sicily and Rome, which boasts - like Popolare di Ragusa - more than a century of history, gave their approval.

The new reality resulting from the merger will have 106 branches spread throughout the island and over 900 employees. It will be the third largest bank by presence in Sicily (after Unicredit and Intesa SanPaolo) and the largest popular bank in southern Italy.

'Sicily finally has its own bank,' commented Saverio Continella, CEO of Bapr, after the meeting. 'Today we celebrate an extraordinary result, the result of intense and shared work. The birth of Baps (Banca Agricola Popolare di Sicilia) opens a new phase of development and growth for our institute" and "will strengthen our ability to serve the needs of small and medium-sized enterprises, families, and local communities"..

"Together we are writing a new page in history for the Sicilian banking system," added Schininà, who interprets the go-ahead given by the Ragusa institute's shareholders' meeting as "a strong signal of the trust that our shareholders place in the strategic vision we are building together.