Shares of BFF Bank SpA rallied by over 10% on Wednesday after a report indicated that Banco BPM is weighing a possible transaction with Amco that would split the Milan-based lender’s activities between the two firms.
According to the report published by Milano Finanza, the proposed division would see Banco BPM assume control of BFF’s custodian bank operations and payment services. Amco, in turn, would be positioned to acquire the factoring business that concentrates on receivables from public administration.
The report added that Banco BPM remains on standby with respect to the Monte dei Paschi di Siena dossier, but is also reported to be evaluating the potential operation involving BFF alongside Amco. Observers should note that, as described in the report, no formal decision has been taken and the initiative remains at a preliminary stage.
Milano Finanza further reported that the scheme could provide a route to resolving issues that BFF has faced since regulatory interventions prompted a revision of its 2025 financial statements and increased capital absorption requirements. The suggested split is presented in the report as a potential remedy for those specific post-intervention challenges.
The market reaction was immediate: BFF’s shares rose sharply following publication of the report. The coverage also referenced trading moves in securities tied to the parties mentioned in the report.
Context and implications
The report frames the possible transaction as a strategic redistribution of BFF’s business lines between a traditional banking group and an asset manager focused on distressed and special situations. While the descriptions in the report identify which units would go to which party, the account emphasizes that discussions are preliminary and that no binding commitments have been disclosed.
Investors and market participants will likely monitor any subsequent confirmations or filings that might follow from the parties involved, but at this stage the information rests on the report’s depiction of discussions and potential structuring.