Carige acquired by Bper, what changes for current account holders. Questions and answers

1 – What happens now that Bper has bought Carige?

Bper has signed an agreement with the Interbank Fund for the purchase of an 80% stake in the capital. To become the owner of that stake, and therefore be the new majority shareholder, the Modena-based group needs the authorization of the ECB, which is estimated to arrive in May and in any case no later than 30 June. Only at that point will Bper be the new controlling shareholder of Carige. For now, the shareholder is still the Interbank Fund.

2 – How will current account conditions change, if they do?

The conditions of the current accounts, at least in the first phase, will not undergo any changes. The rule of succession / takeover of contracts applies, which is why Bper must continue to respect the contracts signed by Carige. Subsequently, when Carige is integrated into Bper, it is estimated at the end of the year, unilateral changes will be possible in order to harmonize the economic conditions of all the group’s customers. Customers will in any case have the right to accept the new conditions or to withdraw and therefore change banks. In that phase, but only in that phase, the Iban of your current account could change.

3 – What will happen to the savings of account holders (funds and other products)?

All savings and investment products will be transferred to the new banking reality. As for the other services, it will be possible to propose changes by the bank regarding the economic conditions: customers will have the possibility to withdraw if they do not wish to accept them.

4 – Will the checks change?

Carige checks can be used as long as the IBAN and the coordinates of the relative current account do not vary.

5 – What will happen to the mortgages and loans taken out by Carige customers?

Nothing relevant. Fixed rate mortgages and loans will not be affected, while floating rate ones – as for all banks – could undergo variations (up or down) based on the trend in the cost of money and other international reference rates.

6 – Will some counters close, will the brand change?

No predictions can be made at the moment. The new industrial plan of Bper, which will be presented in June and which should provide for the integration of Carige already there, could plan a rationalization of the branches of the entire group, and therefore also of some Carige branches. Surely Liguria and Tuscany are the regions of greatest interest in Modena, given that Bper is not very present in these territories. Equally unpredictable is the fate of the brand: being very strong and rooted in the territory, one can imagine that Bper will keep it at least for a certain period.

7 – What happens to the current Carige board of directors?

For now nothing, he remains regularly in office and is operational. When Bper officially owns 80% of the bank (after the ECB’s authorization), the current administrators, who are an expression of the Interbank Fund, will resign their mandate because their mission on behalf of Fitd will be terminated. Then Bper will express its directors and the shareholders’ meeting will elect a new board of directors.

8 – How long will the executive board of Bper remain in office?

It will be timed, in the sense that it will remain in office until Carige is incorporated into Bper. Before the merger, the Modenese group will launch the takeover bid on 20% of the capital remaining on the stock exchange (price 0.80 euros per share, with a premium of 29%).