BMPS: GROUP STRATEGIC PLAN 2021 - 2025
Siena, 15 January 2021 – Banca Monte dei Paschi (the “Bank”), at the request of Consob, has made the document “Group Strategic Plan 2021-2025” ("Plan"), preliminarily approved by the Board of Directors of the Bank on 17 December 2020, available on the Bank's institutional website.
In this regard, the bank reiterates that:
- The Plan was prepared bearing in mind the commitments undertaken by the Italian Government in 2017 with reference to the 2017-2021 Restructuring Plan, recently reaffirmed in a Prime Ministerial Decree of 16 October 2020, which provides for "launching a process for the disposal of the investment held by Ministry in the share capital of MPS, to be carried out through the market and also through operations aimed at consolidating the banking system";
- Considering this perspective, the Plan does not envisage a radical transformation of the Bank's operating model and technological infrastructure, which would involve significant investments, absorption of implementation capacity and high execution risks, with benefits that would only manifest themselves in a few years;
- The Plan assumes the necessary dialogue with DG-Comp with reference to the commitments undertaken in 2017 (which requires the intervention of the Italian State and will culminate in an authorisation measure whose timing and outcome are not foreseeable) and with the ECB which is concerned in matters of sound and prudent management, also for the purpose of approving the capital strengthening hypotheses envisaged in the Plan.