Nexi, Mps and more. What will (and what will not) Poste
What the CEO of Poste Italiane, Matteo Del Fante, said during the hearing in the Senate Finance Committee
Towards completion, the merger of Sia with Nexi, strategic evaluations for Poste Italiane are underway.
This was announced by the group's CEO, Matteo Del Fante, at a hearing last week in the Senate Finance Committee on the company's financial activity.
On the digital payments sector, the number one of Poste recalled that it concerns 29 million cards, the group is positioned as the first issuer with PostePay.
On the possible Mps stew, Del Fante put his hands on: “If we took credit risk, stop many activities”.
All the details.
THE NEXI INVESTMENT FOR ITALIAN POSTE IS FUNCTIONAL
“The merger of Sia with Nexi is about to be finalized. We are important shareholders because we have an equivalent value of over 700 million in the company, which is a very important amount for Poste Italiane, ”said the CEO of Poste Italiane, Matteo Del Fante, answering questions in the Senate Finance Committee last week. "We are making all the strategic assessments of how much this investment is functional to our business in the world of payments".
In fact, we recall that at the beginning of February there was the go-ahead for the merger of Sia into Nexi. The two companies, in fact, after the approval of the board of directors of CDP, CDP Equity and Mercury UK, have signed the definitive agreement for the financial marriage.
THE PLANS FOR THE EUROPEAN PAYMENT GIANT
The plans of Nexi, an Italian company that offers services and infrastructures for digital payment, therefore proceed: the project for the construction of the European payment giant continues.
Fsia, a vehicle controlled by Cdp Equity and participated by Poste Italiane, which holds 57.4% of Sia, is preparing for a partial non-proportional demerger that will lead Poste to have a direct stake in the payment company. And, following its merger with Nexi, in the new entity that will arise from the operation.
WHAT IS THE BUSINESS OF PAYMENTS FOR ITALIAN POSTE
For Poste, payments "is not a residual business" underlined Del Fante, specifying that "29 million cards, by far the number of cards for a single most important issuer"
“Having practically reached 50 billion transactions on our cards last year is a crazy record. We continue to have higher growth rates than the market ”he added.
THE POSTEPAY CARD IS POPULAR AMONG ITALIANS
“In the world of acquiring, too, we are the first operators for issuing cards. In the wallets of Italians, the most represented card is Postepay. On the other hand, we are not as present on the side of the shopkeepers even if we have entered this business and we begin to have numbers that make us at least be in the game: at the end of last year we counted 151,000 Pos ".
REVENUES FROM THE PAYMENTS AND POSTEPAY SECTOR
Words that reflect the group's accounts for the first quarter of 2021 . In fact, we recall that “in the Payments and Mobile sector revenues grew by 16.5% to 192 million“ confirming PostePay's leadership in the rapidly expanding digital payments market ”. Revenues from card payments increased by 20.3% to 101 million and revenues from Telco services grew by 8.6% to 74 million ”.
ABOUT MPS
“A bank for the definition of the European directive is a subject that collects deposits on demand and makes loans, takes credit risk. Poste cannot substantially take credit risk because it collects on demand ”. Thus the number one of Poste Italiane, responding to a question in the Senate Finance Committee on a possible role of buyer in the possible 'stew' Mps . "If we, in a hypothesis of any banking entity, take credit risk on our balance sheet, we would automatically be a bank for European legislation and we would automatically be subject to supervisory rules and therefore we would no longer be able to do most of the activities we do today" .
THE RESTAURANTS FOR THE OBELISCO FUND
With regard to the Obelisco fund, the CEO of Poste reported that "104 million we spent between the 2019 budget and the 2020 budget to reverse and restore the investors who had bought the fund in previous years".
For Del Fante there is "maximum peace of mind today on the products in distribution". And he added: "In these 4 years we have covered and given protection tools to our savers for several hundred million euros so that Poste continues to have a base of investors and customers that has not suffered damage".
1.1 BILLION TAX CREDITS BOUGHT
"One billion and 100 million of tax credits purchased and we have commitments for an additional 500 million that will be made operational in the coming weeks". The CEO reported
by Poste Italiane. "We see an important interest" he added, reporting that to date there are "over 20 thousand subjects" interested in completing the assignment of a credit with Poste Italiane.
THE STATE OF THE MAIL IN ITALY
“Absolutely we were not distracted by the post, but unfortunately it is the post that has become distracted from us,” admits Del Fante.
“The data for 2019 – he adds – which unfortunately will have deteriorated further, tell us that we are about 40 mailings per capita per year: with a year of 52 weeks this means that every Italian citizen receives a correspondence every 10 days. It is difficult to keep up a network when delivering a bill from any utility makes us about 20 cents, and we do one every 10 days: unfortunately it is a systemic issue, more Italian than European because the per capita average of European deliveries is practically double ".
COMMITMENT TO REFOCUS LOGISTICS ON PACKAGES
For the number one of Poste Italiane from 2017 to today, the management "has been characterized by a massive return to logistics, after many years in which unfortunately the decrease in volumes that has affected all systems for 15 years has taken away some confidence in the sector".
“We have invested heavily in logistics and in parcel and mail sorting systems to be more modern, faster and lower costs,” added the CEO. According to Del Fante “we need a little awareness of the fact that Poste Italiane engages 60,000 people in logistics, which means post and parcels: of these 30,000 are postmen. In 'x' years – explains the CEO – there will be no more mail deliveries, so we are making a huge effort to refocus our logistics on parcels because we have a growing e-commerce trend ”.
Poste Italiane in fact closed the results of the first quarter of 2021 with revenues increasing by 9.8%, to 2.93 billion. Among the results still a “record growth of parcels” in e-commerce with “doubled volumes”, + 88%.
COMMITMENT TO STAY IN SMALL MUNICIPALITIES FOR ITALIAN POSTE
Finally, the commitment to remain in small municipalities. "It is no coincidence that the banking system, the insurance system and the large distribution networks have abandoned small municipalities, or those with less than 5,000 inhabitants, which are 5,300 in Italy, where it is not cheap to do business: however we have taken the commitment in 2019 to maintain our presence in those municipalities, beyond the economic aspects and we are still able to keep this commitment ”concludes Del Fante.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/nexi-mps-e-non-solo-cosa-fara-e-cosa-non-fara-poste/ on Mon, 21 Jun 2021 04:13:49 +0000.