Press Release
EFFECTS OF TRADE UNION AGREEMENT
Arezzo, 9 February 2015 - In order to clarify the effects of the signing of the agreement between the Banca Etruria Group and the Trade Unions communicated on February 7
2015, we specify that, according to applicable laws and regulations, the positive mid- term structural effects of the aforementioned agreement will be progressively growing while there will be an immediate negative effect on the 2014 results and on the
common equity tier 1 coefficient.
The impact on the 2014 financial statements are being calculated and will depend on the number of employees who will actually accept; at the moment the estimate is
between 45 and 55 million euros, while the fully phased savings can be quantified in
around 32 million.
For information:
Investor Relations tel. 0575 337768 - 849 - 739
Local and media relations tel. 0575 337317 -591
This press release will be published in its entirety on the Bank's website www.bancaetruria
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