BANCO POPOLARE - Banco Popolare: comment on report published by Morgan Stanley 06/07/2016 15:39 - RSF
NEWS RELEASE
Verona, 6 July 2016
Banco Popolare: comment on report published by Morgan Stanley
With reference to the report released as of today by Morgan Stanley in relation to the ongoing Stress Test of European banks, Banco Popolare has always refrained from commenting on estimates and valuations carried out by analysts. However, in thecase of the report published by Morgan Stanley, the approach is flawed in such a way and the results to which it leads are so severely unfounded to force Banco Popolare to underline that these valuations are, with disconcerting superficiality, based on reconstructions and methodologies that are not even specified, with results which are in no way whatsoever reflected in the data in the hands of Banco Popolare, which were applied in coherence with the rules of the Stress Test itself, without,among other things, including the positive impacts of the latest rights issue. For this reason, Banco Popolare reserves to undertake every appropriate action to protect its reputation and its shareholders.