Popolare di Bari, the inherited account: losses of 600 to 800 million have been ascertained

twelve o’clockMay 29, 2020 – 9:59 am

Other forms of refreshment for shareholders: two-year warrants
and liquidity tranches. The transformation into a joint stock company is required

of Vito Fatiguso

The maxi “check” detached from the Interbank Deposit Protection Fund (Fitd), equal to 1.17 billion euros – including the 364 already paid in advance – will remain entirely available to Banca Popolare di Bari which needs to stabilize its position on the market credit. Most of the resources will be used to cover the losses inherited from the Jacobini management, which according to the best informed amount to an important figure ranging from 600 to 800 million. Obviously, bad debts (NPL) weigh heavily on this figure despite the repeated operations already carried out by the previous management to “reclaim” the credit lines. There is also space for shareholders who will have shares of the future company of 30 million and also Mediocredito centrale will have its participation (thanks to the 430 million expected) to bring the performance of the bank made in Bari upwards.

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Bari, the shareholder protest

May 29, 2020 | 09:59