2023-07-12 05:32:06
(Alliance News) – Banco BPM Spa announced on Tuesday that the board of directors, within the framework of the project to develop the electronic money business with a PNV exceeding 2 billion euros, has decided to grant an exclusivity to FSI SGR Spa, Pay Holding Spa and BCC Pay Spa, after examining the offers received “from leading operators in the sector”.
This exclusivity aims to negotiate and define the terms and conditions of a potential partnership in the sectors of issuance and acquisition, with the simultaneous activation of a joint venture, in the capital of which the Bank will be able to enter with a significant portion, the company’s memo reads.
“The new partnership could lead to the creation of the second national operator, 100% owned by Italian institutions, to which Banco BPM intends to contribute its activities in the field of electronic money, for a mixed consideration in cash and in shares implying advantages in terms of capital.
In addition, explains the company, “a distribution agreement should be signed at the same time, which will allow the bank to preserve its current commission levels – approximately 140 million euros in 2022 – and to exploit the full potential of quantifiable value improvement to more than €2 billion in terms of NPV in a sector with high growth potential in terms of volumes and revenues”.
Banco BPM shares closed positive on Tuesday, up 0.8 percent at 4.32 euros per share.
By Chiara Bruschi, journalist at Alliance News
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