Mps: 843 employees will be involved in closing 50 branches with consequent launch of 70 suppliers to allocate to the trading network.
The difficult moment the bank went through Monte dei Paschi di Siena continuous. The institute declared the need to 50 doors closed To rationalize interference on the network. The trade unions received the call, and thus knew that the above intervention would be roughly related to 843 employees from MPS Bank and this will be followed by the launch of 70 suppliers to be allocated to the trading network.
Branches that participate
Unicredit has been in the Mps data room for more than two months, therefore, it is reasonable to believe that the branches involved in the closure are the ones that Never mind Orcel CEO by Unicredit. At the same time, there is no interest even on the part of Mediocredito centrale, the bank that the government has chosen to take care of part of the network, specifically the southern part.
Officially, no decision has been made yet. Andrea Ursell continues to evaluate what you will get from Mps e whether go ahead Even if this latest decision is more certain than anything else. The subject of operations will be many of Siena Bank’s assets after cleaning up non-performing loans worth approximately 4 billion, recapitalizing and Reducing employee layoffs (about 6/7 thousand).
Mps predictions after Unicredit acceleration
The network is rationalized by closing 50 branches and rationalizing all 70 suppliers Compliance with restrictions It was mentioned in the 2017-2021 restructuring plan approved by the European Commission. This can be seen from the message of Roca Salimbini which employs around 21,000 employees with 1,400 active branches.
Accelerate, therefore, as Unicredit studies steps to formalize the Treasury’s area of interest. It is believed to include Trade network with 1100 branches and Widiba. However, Mps Leasing, IT Center and Capital Service remain offshore. Andrea Orcel intends to follow a neutral line during the acquisition of Monte dei Paschi di Siena, both in terms of capital and growth in value. Thus, inclusion in the Mcc process is mandatory for minimal detection 150 branches in southern Italy (Apulia and Sicily).
Fabi Union Line
The Italian Independent Banking Association through its leader Lando Maria Sileoni announced that the agreement between Unicredit and the Treasury in respect of Mps has been accepted as the only alternative is Apollo. Between a highly speculative fund and an Italian bank, the choice undoubtedly rests with the Italian bank.
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