Mcc, 100 million coming for development

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The Mediocredito Centrale group has as its mission the development of credit in favor of the South but this does not alter the fact that it is a banking group with almost half of the branches in the Central regions, considering the strong concentration of BdM (the former Popolare di Bari) in Abruzzo (legacy of Tercas) and the presence, in Umbria and Lazio, of the other controlled commercial bank, Cassa di Orvieto. A few weeks after the opening of the curtain on the new industrial plan, the CEO Francesco Minotti, in office since May 2023, reveals the guidelines and anticipates that there will be the capital injection requested by the Bank of Italy by next June: 100 million for the parent company Mediocredito via capital increase by the shareholder Invitalia or via subordinated issue of the same amount. «Everything will be detailed in the plan» explains Minotti, a banker with long experience gained in particular in Banco Bpm.

The group’s plan «is focused on our mission which is to support small and medium-sized businesses, our core business; the second focus is on the South, on the development and support of these areas of the territory”. The public direction is clear for the bank: «In the South there is a developing market, with start-ups in the agri-food and tourism sectors» furthermore «after decades of stagnation the South is contributing more and more to the country’s GDP and we will work to strengthen this trend.” The capital infusion will be important for growth. «Today we have a capital endowment and a series of operational tools to develop loans and if we look at the numbers after the administration of the former Popolare di Bari we see that loans are growing against the trend, consuming little capital and this also applies to Mediocredito Centrale, certainly other capital it means further development.”

Mediocredito Centrale is working hard on the recovery process of BdM Banca, taken over three years ago after the rescue supported with the resources of the Interbank Deposit Protection Fund and following the receivership decided by the Bank of Italy. In mid-January the new brand was presented to employees in Bari and the organization of the banking group is exploiting the synergies with the centralization, in the parent company Mcc, of the control functions of both BdM and Cassa Orvieto. A reorganization which involved the secondment of approximately 180 employees of the two commercial banks to the parent company and which will (also) contribute to reducing BdM Banca’s high cost/income ratio.

The employees of the Apulian bank, it should be remembered, are contributing to the recovery with sacrifices in their paychecks (solidarity plan) until next December. In Bari, at the helm of BdM, there is Cristiano Carrus «whom I have known since the days when we worked together at Banco Popolare and whom I respect a lot: the team is of great quality, human and professional».

The network of BdM branches is centered on the Adriatic coast and is, consequently, less widespread in other areas of Southern Italy “such as in Sicily where there is only one MCC branch”. The challenge, states Minotti, will be to «serve these territories better with the electronic channel but we are evaluating, in the plan, the opening of physical outposts either as branches or as business help desks to better articulate the territorial network».

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