Joint-stock company - founded in 1871
Head office and general management: I - 23100 Sondrio So - Piazza Garibaldi 16
Registered in the Register of Companies of Sondrio at no. 00053810149
Registered in the Register of Banks under no. 842.
Parent Bank of the Banca Popolare di Sondrio Banking Group, registered in the Register of Banking Groups under no. 5696.0
Registered in the Register of Cooperative Societies under no. A160536
Member of the Interbank Deposit Protection Fund
Tax code and VAT number: 00053810149
Share Capital € 1,360,157,331 - Reserves € 1,253,388,214 (data approved by the Shareholders' Meeting of 11/5/2021
PRESS RELEASE
BCE REDUCES THE SREP REQUIREMENTS OF BANCA POPOLARE DI SONDRIO FOR 2022
BANK'S CAPITAL RATIOS WELL ABOVE NEW TARGETS
Banca Popolare di Sondrio announces that it has received from the European Central Bank, at the conclusion of the annual SREP ("Supervisory Review and Evaluation Process") conducted in 2021, the notification of the new decision regarding prudential requirements to be met on a consolidated basis, effective as of March 1, 2022.
The additional Pillar 2 Requirement (P2R) is 2.77%, down from previous 3.0%. The new ratio, to be held 56.25% in terms of CET1 capital and 75% in terms of Tier 1 capital, includes an ad hoc 0.02% increase in the Pillar 2 requirement for non performing exposures.
As a result, the minimum required Common Equity Tier 1 ratio is 8.56%, down from previous 8.69%, and is determined as the sum of the minimum Pillar 1 regulatory requirement (4.5%), the additional Pillar 2 requirement (1.56%) and the capital conservation buffer (2.5%). The required Tier 1 ratio is 10.58%, down from previous 10.75%. The minimum Total Capital Ratio is 13.27%, down from previous 13.50%.
On the basis of the data as at 30 September 2021, the Banca Popolare di Sondrio Group has capital ratios that are well above the aforementioned thresholds:
Ratios as of 30.09.2021 | (phased-in) | (fully phased) | SREP Requirements 2022 |
CET 1 ratio | 16.53% | 16.44% | 8.56% |
Tier 1 ratio | 16.57% | 16.48% | 10.58% |
Total Capital ratio | 18.33% | 18.24% | 13.27% |
No specific additional funding and liquidity requirements have been specified by the ECB.
Sondrio, 3 February 2022
BANCA POPOLARE DI SONDRIO
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COMPANY CONTACTS | ||
Investor Relations | External relations | Image Building |
Dott. Michele Minelli | Rag. Paolo Lorenzini | Cristina Fossati, Anna Pirtali |
0342-528.745 | 0342-528.212 | 02 89011300 |
michele.minelli@popso.it | paolo.lorenzini@popso.it | popso@imagebuilding.it |
The English translation is provided solely for the benefit of the reader and in the case of discrepancies the Italian version shall prevail.
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Banca Popolare di Sondrio Scpa published this content on 03 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2022 17:30:04 UTC.