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Negotiations for the acquisition of a 70.77% stake in Farbanca S.p.A.

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Mestre (Venice), 11 May 2020 – Following the recent press reports, Banca Ifis informs that, until May 29th, it is in exclusive negotiations for the acquisition of 70,77% of the shareholders’ capital of Farbanca S.p.A., a company owned by Banca Popolare di Vicenza.

The market will be promptly updated of the outcome of the negotiations.

Farbanca, founded in 1997, reported a net profit of 4,1 million Euro in 2019 with trade receivables of approximately 598 million Euro. As at 31 December 2019, its net equity stood at 65,5 million Euro and it had a CET1 ratio of 16% and risk-weighted assets (RWAs) of 409,9 million Euro.