FINANCE – Shareholding increased to 19%, operation authorized by the ECB. The Veneto group strengthens its growth strategy in the Marche region by focusing on the local area and SMEs. President Ferdinando Cavallini: «No change in the control of the institute»
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Giovanni Bossi, CEO of Cherry Bank
Cherry Bank doubles its presence in Banca Macerata and consolidates the role of main partner of the capital’s credit institution. The banking group led by the Padua entrepreneur Giovanni Bossi has in fact brought its participation from 9.7% to over 19% of the capitalthrough the purchase of shares from local entities.
The operation, authorized by the European Central Bank, marks a new step in the process of rapprochement between the Venetian bank and the Macerata realityalready started in the spring of last year, when Cherry Bank entered Banca Macerata’s capital for the first time, becoming its reference shareholder.
The strengthening of the share confirms the Paduan group’s desire to invest decisively in the Marche region and, in particular, in the local credit system. Cherry Bank is already present in the region with its own branches in the northern Marche region – between Pesaro, Montecchio and Lucrezia – and now aims to further develop its operations, both through a direct presence and through collaborations with banks strongly rooted in the territories.
The investment is based on the belief that the economic fabric of the Marche region, characterized by a strong manufacturing vocation and a widespread system of small and medium-sized enterprises, offers ample margins for growth also on the credit front. A context in which Banca Macerata represents a historic interlocutor for local families and businesses, with direct knowledge of local dynamics. The operation that led to the increase in participation was followed by Prometeiawho acted as financial advisor to the selling partners. With this move, Cherry Bank therefore strengthens its bond with Macerata and reiterates the growth strategy based on partnerships with local institutions, respecting autonomy and with the aim of supporting the economic development of the area.
The president of Banca Macerata, Ferdinando Cavallini
The president of Banca Macerata, Ferdinando Cavallini, clarifies that there is no change in control of the institution. «The increase in Cherry Bank’s shareholding up to 19% does not in any way determine a takeover, nor does it change the governance structures of the Bank; we are only in the presence of an increase in the participation of the first shareholder who therefore increases his share. However, control remains firmly in the hands of the shareholders’ agreement, which continues to govern the Bank and guide strategic choices, as has been the case for over 16 years with the positive results that are there for all to see.” The president therefore underlines that nothing changes in the management of the institute and that there are no changes in the operational management or in the decision-making balances, which remain anchored to those founding members who have always continued to believe with conviction in the Banca Macerata project.
(Updated at 12.30pm)
Cherry Bank enters Banca Macerata and becomes the first shareholder, acquiring 9.6% of the shares
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