Banca Popolare di Sondrio, the CISL Valtellina union: "We will monitor the acquisition and the employees' future."

Sondrio – The acquisition of BPS by BPER is now a done deal . Although the old management tried to resist, BPER's strength prevailed and, by the end of the year, the Banca Popolare di Sondri o , the last local credit institution in Valtellina and Valchiavenna, will be incorporated into Italy's third largest banking giant.

There has been a lot of reaction these days, as everyone fears that the transaction will prevent BPS from operating, as it has done so far, in support of small and medium-sized local businesses . "Following BPER Banca's acquisition of Banca Popolare di Sondrio, we are witnessing a major evolution in the Italian banking landscape," says the Sondrio branch of CISL. "The full integration of BPS is expected by the end of the year, marking a significant transition phase that profoundly affects employees, customers, and the entire local community. This transaction marks the end of an era for Valtellina, as it closes the chapter of a historic bank, known for its streamlined operating model and streamlined decision-making process, which has always stood out for its proximity and customer focus."

Bper Banca has repeatedly reaffirmed its commitment to maintaining these distinctive values , which represent a genuine asset for the local community. The Sondrio CISL union, in collaboration with First CISL, is closely monitoring the developments of this operation, aware of the potential economic, social, and employment implications it entails. "It will be important to maintain several fundamental cornerstones, including safeguarding local jobs and skills, which represent an essential value for the community. Furthermore, the need to keep the local community at the heart of future corporate strategies is highlighted. BPS has historically played a crucial role in supporting the local economic fabric, and this connection must be strengthened through governance that demonstrates sensitivity to the specific needs of the region." The CISL is committed to closely monitoring BPER's commitment to keeping its promises , ensuring that the transition brings tangible benefits to all involved, with particular attention to employees. It is also committed to collaborating with institutions, social partners, and supervisory bodies to ensure that this process is transparent and respectful of the unique characteristics of Valtellina and Valchiavenna.

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