Following the press release dated 9 July 2015 announcing that BPER had exceeded the threshold for total assets of 8 billion foreseen under the current rules for cooperative banks, the Board of Directors of Banca popolare dell'Emilia Romagna today approved the proposed mandatory amendment of the Bank's Articles of Association in accordance with current regulations and the instructions issued by the Supervisory Authority contained in the 9th update of Circular 285 "Supervisory Provisions for Banks" of 9 June 2015.
The effectiveness of these amendments is subject to the Bank of Italy issuing its notice of verification pursuant to Article 56 of the Consolidated Banking Act, which the Bank will apply for in the next few days, prior to registration with the pertinent Companies Register.
At the same meeting, the Board of Directors of Banca popolare dell'Emilia Romagna also appointed Goldman Sachs International as financial advisor to analyse potential extraordinary operations in anticipation of a possible consolidation process in the domestic banking sector.
