(Alliance News) - Banco Di Desio e della Brianza Spa announced Thursday that Banco Di Desio Spa has signed an agreement to take over 14 bank branches from Banca Popolare di Puglia e Basilicata Scpa.

The branches in question are located in Lazio, Lombardy, Veneto, Marche and Piedmont.

The entire business unit includes gross banking product as of Dec. 31, 2023 of about EUR870 million and about 17,000 retail and SME customers, as well as assets, liabilities and legal relationships referable to these entities.

The transaction will enable an increase in the number of customers by 3.6 percent, total loans by 3.0 percent and total deposits from ordinary customers by 2.4 percent, the bank explained in a note.

The capital endowment of the business unit is expected to be 16.2 percent of the CET 1 ratio, allowing Banco Desio "to maintain high capital strength while limiting the dilutive effect on the CET 1 of the Banco Desio banking group to around 30 bps," as the bank explained.

The transaction is expected to close in the fourth quarter of 2024, and the base price of EUR21.9 million and a badwill of EUR2.6 million is subject to adjustments agreed between the parties.

Banco Di Desio e della Brianza on Thursday closed in the green by 0.2 percent at EUR4.99 per share.

By Claudia Cavaliere, Alliance News reporter

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