BMPS Stated after mkt hours phased in CET1 FL at end of ’15 was 11.7% (transitional 12%). Liquidity position is the highest it’s been for 4 years. Credit quality improved in Q4 with a reduction of deteriorated credit stock. FY ’15 Net Profit Euro 390 mn (including effect of restating a derivative transaction at the request of regulators). Deposits stood at 68.9 billion euros at the end of the year, up 7 percent on the year.
Reuters reports comments from CEO Mr Viola that there are no new factors that can explain the recent stock performance and that the bank was in good shape. He added that the scheme approved by the government to help banks offload their bad loans was a step in the right direction. He did not specify whether the lender would join the scheme. He also said that at the moment there are no concrete merger options and that client outflows had stabilised over the last few days ( in Q1 Customer deposits declined by EUR 3.4Bn qoq, or 3% qoq, in line with what had been already anticipated by Mr Viola).
POP MILANO / BCO POPOLARE Reuters reports that a Pop Milano / Bco Popolare merger as equals is closer and that the government approves. Il Sole reports that a merger of the two is close and that a deal could be signed by mid February. Suggested that a letter of intent could be signed at the time of the publication of FY ’15 results.
GENERALI MF reports that a board meeting on a new CEO could be held at the end of next week.
BAD LOANS / BAD BANK Reuters reports comments from a Treasury official that the scheme to help banks sell their bad loans should be in place by April and that the Government is not expected to limit the amount of debt that the state will guarantee.