Everything as expected. The Interbank Fund Voluntary Scheme has rejected the project presented by the Apollo fund for the rescue of Banca Carige in today's meeting convened to examine the dossier. However, Fitd announces its intention to "intervene in a short time in solving the bank crisis", saying it is ready to "evaluate intervention proposals that provide for the participation of current shareholders and public or private partners”, reads the note sent in the margin of the summit.
The scheme also informs that it intends to start "as early as tomorrow an in-depth analysis of the technical and organizational aspects of the bank, to define the capital requirement and the connected long-term economic-financial projections, suitable for supporting an effective and credible industrial plan” aimed at establishing with certainty what the bank's capital needs are.
We recall that in November 2018, the Interbank Fund had given the go-ahead for the subscription of a bond convertible into shares equal to 318 million of Euro. During the week, a recapitalization plan is expected to be sent to Frankfurt banking supervision, the amount of which should be equal to 630 million euros. At this point it seems probable that alongside the Fund that represents the Italian banking system there will be the main old shareholders of the bank, namely the Malacalzas, the Volpis, the Spinellis, the Minciones and the small shareholders willing to put their hands on their wallets for the next capital increase. Malacalza, the bank's leading shareholder with 27,7% of the capital, has repeatedly stated that he is willing to support Carige in the presence of an industrial plan.
