(Teleborsa) – Following the approval on 31 May 2024 by the Board of Directors of Banca Agricola Popolare di Ragusa (BAPR) of the merger project by incorporation of Banca Popolare Sant’Angelo (BPSA), on 27 June 2024 the the Supervisory authorizations were obtained and on 28 June 2024 the documents necessary for carrying out the activities were deposited at the BAPR registered office BAPR and BPSA assembly meetings called to deliberate regarding the proposed merger by incorporation.
The operation intends to broaden the operational horizon of the new entity, extending the strengthened “Ragusa model” to the whole of Sicily. Upon completion of the merger by incorporation of BPSA and as a natural evolution of the path undertaken, Banca Agricola Popolare di Ragusa will assume the new name of BAPS – Banca Agricola Popolare di Sicilia.
“The merger by incorporation of Banca Popolare Sant’Angelo into Banca Agricola Popolare di Ragusa combines history and innovation: the bank will maintain the corporate form of a popular institutionwill consolidate the bond with stakeholders and will provide ever greater opportunities for the development of the reference territories”, he commented Arturo Schininà, President of the Board of Directors.
“In this direction, the new territorial extension, the renewed market positioning and the relational evolution will also develop in a re-branding of the bankwhich will take on the new name Banca Agricola Popolare di Sicilia (BAPS), an increasingly modern bank serving all Sicilians”, he added.
