Credito Valtellinese Group: foundation of the new company Finanziaria San Giacomo S.p.A.
Sondrio, 12 January 2006 - In reference to the press release dated 13 September 2005, regarding the outline of a project to streamline the Group's activities in the medium/long term loans sector.
As previously announced in the abovementioned press release, Finanziaria San Giacomo S.pA. was founded today with the corporate purpose of performing financial activities - specifically, the purchase, management and divestiture of non-performing assets related to activities carried out by banks in the Credito Valtellinese Group.
The share capital of the new company - € 3 million - is held in its entirety by Mediocreval S.p.A., a bank belonging to the Creval Group.
The Finanziaria San Giacomo S.pA. - which will become the non-performing loan transferee for the other banks of the Group - will present its request to be registered in the general roll of operators in the financial sector as per art. 106 of the Consolidation Act regarding banking and credit.
For further information, contact:
Deltas General Office
Telephone 0342 522664
Email: dellapenna.alberto@creval.it
Filippo Grieco
General Director at Mediocreval
Telephone 0342 522302
Email: grieco.filippo@creval.it
