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Italy’s BPER to pay out $1 bln to buyers under new blueprint | Reuters

Bper monetary institution label is pictured in Rome, Italy, February 17 ,2021. REUTERS/Guglielmo MangiapaneRegister now for FREE unlimited safe admission to to Reuters.comMILAN, June 9 (Reuters) – Italy’s fourth-biggest monetary institution BPER Banca (EMII.MI) on Friday pledged to reward buyers with al least 1 billion euros ($1 billion) in dividends under a new blueprint that…

Italy’s BPER to pay out $1 bln to buyers under new blueprint | Reuters

Bper monetary institution label is pictured in Rome, Italy, February 17 ,2021. REUTERS/Guglielmo Mangiapane

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MILAN, June 9 (Reuters) – Italy’s fourth-biggest monetary institution BPER Banca (EMII.MI) on Friday pledged to reward buyers with al least 1 billion euros ($1 billion) in dividends under a new blueprint that envisages decreasing 600 branches and stepping up digital investments.

BPER, whose predominant shareholder is Italy’s No.2 insurer UnipolSAI (US.MI), mentioned it would develop its bag profit to around 800 million euros in 2025 from 384 million final one year by making a bet on its insurance protection and wealth administration companies to force charge earnings.

BPER, which insurer UnipolSAI has urged onto a variety direction to contrivance a extensive distribution network for its products, mentioned bag charges would account for half its overall revenues in 2025, from 45% final one year.

The new 2022-2025 blueprint comes after BPER agreed to prefer ill rival Carige this one year in a rescue deal financed by the alternate.

The Carige acquisition followed the prefer of around 600 branches BPER sold as segment of Intesa Sanpaolo’s UBI takeover in 2020. ($1 = 0.9401 euros)

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Andrea Mandalà, bettering by Valentina Za

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