Attention to the territory with 30 billion in new credit in the three-year period 2021-2023, doubled social investment and the hiring of 2,500 young people. Are some elements in the draft Intesa Sanpaolo for the new banking group whose creation is expected at the end of the voluntary public exchange offer on Ubi Banca. To enhance the link with local realities and generate significant effects for the economy and the community, Intesa Sanpaolo’s plan as part of the public exchange offer launched in February on Ubi Banca provides for the creation of four new regional directorates to Brescia, Bergamo, Cuneo and Bari. Each direction will have a network of about 300-400 branches and will receive an increase in the disbursement of new credit for over 10 billion a year (a total of 30 billion in the three-year period 2021-2023). A benefit that will translate, in terms of social and sustainability, in the doubling of interventions in the territory and in the hiring of 2,500 young people, more than half in the territories of Brescia, Bergamo, Pavia, Cuneo and in Southern Italy. Finally, Intesa Sanpaolo will place the activities of the so-called “impact bank” in Brescia, Bergamo and Cuneo, ie those dedicated in particular to the social sector.
“In the current scenario and in the one that will follow in the coming months, our proposal towards UBI shareholders acquires greater strategic value and represents an even more relevant perspective” he declares Carlo Messina, CEO and managing director of Intesa Sanpaolo. In fact, in the Ca ‘de’ Sass’ vision, the integration project with UBI Banca represents the best opportunity for the creation of value for UBI shareholders who would thus become shareholders of an Italian banking group with a European solid asset base, which has been able to demonstrate to create value over time, with a low risk profile and a resilient and well diversified business model, able to reduce the amount of impaired loans without any burden on shareholders, thus continuing to guarantee profits and dividends in constant and progressive growth. An operation, also appreciated by financial analysts covering the stock. After Akros and Equita, the project has also received a positive evaluation from Exane analysts, according to whom the transaction creates value for the shareholders of both institutions and if the Milanese bank were to withdraw it, the title of the smallest competitor would retrace in a ” considerable”. The experts evaluate both actions “outperform” but, highlights the study, the opinion on Ubi “is solely linked to the fact that we believe that the Ops will be successful”. The Ops, analysts explain, will increase Intesa Sanpaolo’s profit and bring the return on investment “comfortably above 10%” with synergies that “could be much higher than the 340 million announced” by Intesa Sanpaolo.
“We believe that a significant generation of value is widely achievable even in the case of adhesion of only 50% + 1 share of UBI. We intend to carry out a project that aims to generate further benefits for all stakeholders and provide solid support to the real and social economy, with an overall strengthening of Italy “, remarked recently the CEO and CEO of the Milanese institute , Carlo Messina. A role, that of being protagonists of the support to the real economy of the country, which Intesa Sanpaolo has proved to be also on the occasion of the health emergency linked to the spread of Covid-19. The Milanese group, in fact, has put in place significant initiatives both socially and economically. From the earliest stages of the emergency, it promoted a large moratorium on existing loans and made available a ceiling of 15 billion euros for the new credit, subsequently increased to 50 billion following the measures launched by the Government through the Liquidity Decree . National reference point in the provision of credit to households and businesses, with 450 billion euro of credit lines – equal to 25% of GDP – Intesa Sanpaolo provided support in the first quarter of the economy with 17 billion euro of new medium credit -long term, of which approximately 14 billion in Italy and approximately 11 billion disbursed to families and small and medium-sized enterprises.