On April 30, 2025, the Banca Popolare di Sondrio held its ordinary and extraordinary shareholders' meeting, where over 5,600 shareholders, representing approximately 54% of the share capital, gathered to make significant decisions regarding the bank's future. The assembly approved the financial statements for the year ending December 31, 2024, which revealed a net profit of 510.517 million euros. Additionally, the shareholders agreed on a proposed distribution of a gross dividend of 0.80 euros per share, also known as coupon number 47. This dividend is set to be detached on May 19, 2025, with payments commencing from May 21, 2025.
The financial performance of the Banca Popolare di Sondrio was robust, with the consolidated banking group reporting a net profit of 574.942 million euros for the same period. The total customer deposits reached 98.839 billion euros, marking an increase of 8.9%, while loans amounted to 35.027 billion euros, showing a 1.6% rise. The bank's CET1 ratio stood at 15.39%, and the Total Capital Ratio was 18.18%, indicating a strong capital position.
During the meeting, five directors were appointed for the three-year period from 2025 to 2027. The newly appointed directors include Maria Letizia Ermetes, Christian Montaudo, Salvatore Providenti, Franco Giuseppe Riva, and Francesco Venosta. The first four were elected from the list presented by Assogestioni, which received 180,679,726 votes, accounting for 73.3% of the votes cast. Venosta, representing a list of private shareholders, garnered 64,040,015 votes, or 25.9% of the total.
In addition to the approval of the financial statements and dividend distribution, the assembly also sanctioned the 2025 Remuneration Policies of the Banca Popolare di Sondrio Banking Group, which included the compensation paid in 2024. The meeting authorized the use of treasury shares, valued up to a maximum of 1.55 million euros, to support the remuneration plans based on financial instruments for both 2025 and the long-term plan for 2025-2027.
Another crucial decision made during the extraordinary session was the amendment to Article 49 of the articles of association. This change allows the Board of Directors to resolve on advance payments of dividends, thereby enhancing the strategic options available to the board concerning dividend policy.
The assembly's proceedings were presided over by Francesco Venosta, who expressed satisfaction with the participation and engagement of the shareholders. He noted that the high turnout reflected the strong support for the bank's strategic direction and the commitment to maintaining its identity as a community-focused institution.
Despite the favorable outcomes for the institutional investors, the small shareholders, represented by the group 'Insieme per la Popolare,' claimed a significant achievement. They emphasized the importance of their participation and the number of votes they secured during the assembly, which highlighted their grounded presence in the territory and support for the bank's new industrial plan. They expressed confidence that the newly elected directors would contribute positively to the bank's governance and maintain its unique character, which they believe is vital for its strength and stability.
In conclusion, the Banca Popolare di Sondrio's shareholders' meeting underscored a commitment to financial prudence and strategic growth, with a clear focus on enhancing shareholder value through dividends and strong governance. The decisions made are expected to pave the way for continued success and community engagement as the bank navigates the evolving financial landscape.
