Banca Monte dei Paschi sells 22 branches to Banca Carige

Today, Banca Monte dei Paschi di Siena and Banca Carige have signed a sale-and-purchase agreement providing for the disposal of 22 branches of Banca Monte dei Paschi to Gruppo Carige for a total consideration of € 130 million.

As at 30 September 2009, the branches covered by the agreement had approximately € 1,537 million in total customer deposits and about € 840 million in loans to customers. With the acquisition of the BMps branches (that will be funded out of Carige's own resources maintaining adequate levels of capital), the Carige Group will reach 655 branches, of which 79 in Tuscany.

The finalisation of this transaction is expected to have an impact of 10 basis points on the Tier 1 ratio of Banca Monte dei Paschi di Siena.

The finalisation of the transaction is conditional upon obtaining all authorisations required.