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Milan, 6th October 2023 – Today the Board of Directors of BFF Bank S.p.A. (“BFF” or the “Bank”) resolved to start the regulatory process to obtain Bank of Italy’s authorization for the Bank’s shares’ buy-back, pursuant to articles 27 and seq. of the EU delegated Regulation n. 241 dated 7 January 2014, adopted by the European Commission, and to article 78 of the EU Regulation n. 575 dated 26th June 2013, in execution of the authorization issued by the ordinary Shareholders’ Meeting of 13th April 2023 pursuant to article 2387 of the Italian Civil Code up to the maximum amount of €8.5 million, with an estimated impact of c. 29 bps on the Bank’s CET1 ratio calculated on a pro-forma basis as of 30th June 2023.
The shares’ buy-back programme aims at providing the Bank with a stock of financial instruments necessary to fulfil the obligations of the remuneration and incentive systems related to BFF’s “Banking Group remuneration and incentive Policy” in force.
The authorization to be issued by the Regulator, the starting date, the timing, the exact amount and all the other details of the shares’ buy-back programme which will be executed pursuant to the delegated Regulation 2016/1052/EU, following the specific resolution of the Board of Directors, will be promptly communicated by the Bank to the market.