The Board of Directors of BPER Banca today examined and approved the individual and consolidated results of the Bank and of the Group as at 31 March 2021, which include the economic contribution pro rata temporis of the business unit acquired on a pro rata temporis basis since 22 February 2021.
The Chief Executive Officer Piero Luigi Montani comments: "The quarter just ended represented a fundamental phase of BPER's growth strategy thanks to the integration of the 587 branches of UBI Banca, to which 33 branches of Intesa Sanpaolo will be added in June. The integration process took place on schedule and ensured full operational continuity of the new network. This thanks to the huge commitment on the part of all colleagues who worked on the project, in a particularly complex external context. This transfer deal involved approximately 1.4 million customers and makes BPER the third largest Italian banking group by total funding.
The acquisition of the business allowed the Group to make a significant leap in size in terms of volumes, market shares and customers, at the same time improving its competitive position through an overall rebalancing throughout Italy, especially in geographical areas where BPER had a less significant presence.
Some of the benefits expected from the deal are already visible in the results, thanks to a further reduction in the gross and net NPL ratios, to 5.9% and 3.1% respectively, while maintaining a high capital position with a CET1 ratio well above 13%. The results take on even more value if they are put into relation with the external environment deeply conditioned by the effects of the pandemic.
As restrictions are gradually removed, completion of the acquisition will allow us to focus our energies on commercial development, in order to increase customer services and, at the same time, make our structure more efficient, maintaining a strong tension in the continuous process of improving asset quality.
I would like to take this opportunity to give my warmest welcome to the new colleagues who will join the Group in June, convinced that they will participate in the future of BPER, animated by our strong commitment to serve customers who have always distinguished them in their business activity".