The Central Bank, in the exercise of its functions of supervision and protection of the sound and prudent management of intermediaries and the stability of the financial system, announces the conclusion of the assessment of the application submitted by a foreign group seeking to acquire a majority stake in Banca di San Marino.
In light of all the information acquired, also thanks to national and international cooperation with other Authorities and Institutions, the Supervision Committee of the Central Bank has decided not to authorize the acquisition. Such a decision is based on prudential and supervisory criteria, consistent with current regulations and international best practices on reputational suitability.
The measure taken has no impact on the operations of the Bank of San Marino, as it only concerns those interested in acquiring a controlling interest in its capital, nor does it affect the Bank’s ongoing path to strengthen its technical profiles, which has been underway for some time, according to timelines shared with the Supervisory Authority, as is the case for other banks.
The Central Bank points out how the Bank of San Marino regularly continues its activities in support of families and businesses, ensuring the full continuity of all services. The bank operates in compliance with the prudential and liquidity requirements, provided for by the current legal framework in force to protect depositors and the stability of the financial system.
No measures of any kind are envisaged with regard to the Bank of San Marino.
In the context outlined above, pursuant to Article 37 of Law 165/2005 (LISF), the Central Bank will take all possible legal actions, against anyone who disseminates news or messages that undermine confidence in the stability or business continuity of the Bank of San Marino.