Bpm wins bank battle, unicredit: This article explores the topic in depth.
Meanwhile,
Bpm wins bank battle. Meanwhile, unicredit:
(Alliance News) – The game of musical chairs in the banking sector in the first seven months of the year saw a net victory for Banco BPM, led by Giuseppe Castagna, and a defeat for Unicredit, according to Corriere della will be on Monday.
Despite a record market capitalization of 100 billion euros for Unicredit. Nevertheless, its public exchange offer on Banco BPM, accompanied by a derisory premium of 0.5 %, remained below market values. Therefore, The operation ended prematurely with barely 0.5 % membership: a bitter failure.
Two factors explain this setback: the strong territorial anchoring of Banco BPM. However, an error of appreciation on the part of Unicredit, which perhaps hoped for a dramatic stroke. Therefore, Everything took place under the watchful eye of the government. Nevertheless, which intervened controversially via the Golden Power system, in a typically Italian bpm wins bank battle, unicredit case. For example, The end result requires Unicredit to question.
The now closed Italian part, Unicredit turns his gaze elsewhere. In addition, The group. which under the leadership of Andrea Orcel has displayed remarkable stock market performance and distributed generous dividends to its shareholders, however, has made no major operation in Italy, neither with MPM nor with Banco BPM. Now. attention is focused on Germany: the objective is to increase participation in Commerzbank up to 30 % by the end of 2025, despite tensions with Berlin.
At the same time. Unicredit invests in digital with Aion Bank and Vodeno, while keeping an eye on Poland and Greece. But all of this may not be enough to fill in the Orcel agenda. It remains the question of participation in Generali – today by 5 % and decreased – and that of 1.9 % in MediBanca: assets which could be brought into bpm wins bank battle, unicredit play during the next wave of Italian banking consolidation. Orcel will need allies to grow.
For his part, Castagna celebrates two successes: the title of Italian champion of Napoli and the withdrawal of Unicredit. But above all. it collects the fruits of an effective strategy, based on local anchoring and the control of “product factories”, which today generate half of commissions. A rampart in the face of possible rate drops.
The figures speak for themselves: 15 billion euros in real estate credits. 100 billion euros in loans over five years, for a total return of 1,000 % for shareholders. The title remains solid, around EUR 11, and the rating agencies display their optimism.
Place in the future: Banco BPM holds 9 % MPS, which is advancing on Mediobanca. Castagna is looking for an alliance to grow, while respecting the DNA of the bank. This could be done with MPS or bpm wins bank battle, unicredit BPER, sharing popular roots. But we must also monitor Crédit Agricole. the first shareholder with more than 20 % of the capital and the deep roots in the French cooperative credit.
The future will be played with the outcome of the MPS ops on Miodobanca. This will be the operation that will trigger the next consolidation phase. And, this time, no one will be able to afford a misconduct, especially not unicredit.
Par Giuseppe Fabio Ciccomasclol, Rédacteur Senior ALLI 9is ALLIANCE CHILE
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Bpm wins bank battle, unicredit
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