BNCZF - Banco BPM explores sale partnership for its payments unit - Bloomberg

Italy-based Banco BPM SpA (OTC:BNCZF) (OTC:BNNCY) is exploring a potential sale or partnership for its payments unit to boost shareholder value, Bloomberg reported Friday. “We are examining all the options for our merchant-acquiring business, including a disposal or a joint venture agreement,” Bloomberg reported Friday, citing Banco BPM CFO Edoardo Ginevra in an interview. “In the past Banco BPM’s moves to value its assets were done to finance derisking, now our purpose is to ensure significant remuneration for shareholders.” Ginevra said the bank can generate a higher profit in 2022, along with reducing provisions for bad loans and provide a dividend payout of at least 40%, Bloomberg reported. “I expect 2022 profit somewhere in between last year’s net income and the 2023 target,” the CFO said, according to Bloomberg. “For dividends, we have a commitment of a payout ratio of 40%, but we are confident we can go higher, having already

For further details see:

Banco BPM explores sale, partnership for its payments unit - Bloomberg