(Teleborsa) – Desio Bank signed up with Banca Popolare di Puglia and Basilicata an agreement for the purchase of a business unit consisting of a total of 14 bank branches located in Lazio, Lombardy, Veneto, Marche and Piedmont.
The acquisition of the Company Branch is consistent with the objectives of the Business Plan of the Banco Desio Group “Beyond26” aimed at further consolidating the positioning of a proximity bank in the retail and SME customer segments. The acquisition of the Business Branch will allow new customers to access the products and services of the Banco Desio Group and will offer an opportunity for stability and professional growth to new employees.
The Company Branch includes a gross banking product as at 31 December 2023 equal to approximately 870 million euros and about 17,000 retail and SME customers, as well as assets, liabilities and legal relationships referable to them. The operation will allow a increase of the number customers by 3.6%of the total 3% jobs and of total funding from ordinary customers of 2.4%. The capital endowment of the Business Unit is expected to be equal to 16.2% of CET1 and allows Banco Desio to maintain high capital solidity, limiting the dilutive effect on the CET1 of the Banco Desio banking Group to approximately 30 bps.
The closing of the operation is expected in 4th quarter 2024 and the price basis equal to 21.9 million EUR (and a badwill equal to Euro 2.6 million) is subject to adjustments agreed between the parties.
Obtaining the estimated cost and revenue synergies will be able to allow for operational and commercial efficiency with a positive contribution to net profit as early as 2025.
