The Trento partners said yes to the merger project with Cassa Rurale Novella and Alta Anaunia
With 4,461 votes in favour, 32 against and 6 abstentions for a total of 4,499 voters, the members of the Cassa di Trento, Lavis, Mezzocorona, Valle di Cembra and Alta Vallagarina, called to an extraordinary meeting at the PalaTrento this evening, said yes to the merger project of Cassa Rurale Novella and Alta Anaunia.
We remind you that a similar outcome was achieved last Friday 17 November by the members of the Rurale group.
Thus a new entity was born in the field of regional cooperative credit, which takes the name of «Banca per il Trentino Alto Adige – Bank für Trentino-Südtirol – Italian cooperative credit».
The new reality, the first Cooperative Credit Bank with a regional territorial connotation – in terms of size – of the Cassa Centrale Banca Group, will have a strong presence in an area that extends from Merano to Rovereto, passing through the Non valley: a strategic area for the regional economy, which has a total of 97 municipalities, 500,000 inhabitants, over 30,000 businesses.
Today’s extraordinary meeting in Trento therefore represented the final act of a process which saw some fundamental stages during 2023, including the signing of the merger agreement in March; between May and June the preparation of the industrial plan and the merger project; authorization by the ECB last September 8th.
A process that today leads to a result that is historic in its own way for the Trentino Cooperative Credit, and which opens up important horizons for our community, as the president of Cassa di Trento, Giorgio Fracalossi, highlighted this evening during his detailed speech:
«The primary objective of the merger project is to maintain a strong operational entity with prevalent mutuality capable of contributing to the economic development of the communities, consolidating the territorial roots through the effective involvement of the members in the life of the Cassa, guaranteeing the territory and continuity of support for volunteering.»
The general director Gabriele Delmonte was keen to underline the opportunity of “uniting complementary territories with a view to better coverage of the market, which will also take place through a review of the distribution model with the creation of territorial areas that will be able to serve in a more effective and efficient way the clientele.
Thanks to the greater capital endowment of the new Bank, credit interventions in favor of families and businesses will be able to be expanded.
In particular, with regard to the latter, there will be the opportunity to support, also in terms of attention to ESG issues, new investments, a fundamental driver for the economic development and well-being of the territories, also applying greater sectoral diversification with consequent reduction of risk.
This aggregation will in fact make it possible to reach dimensions that will allow better economies of scale, greater profitability, diversification of income and risk, through an organizational structure and a more efficient control system.
The new Cassa will operate starting from January 1, 2024 in the provinces of Trento and Bolzano, with 47 branches and a total staff of 396 people.
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