Credem and Iccrea bid for BdM Banca as Banco BPM launches first Green Tier 2 bond

Credem and a consortium led by BCC Iccrea and Banca Popolare di Puglia e Basilicata have submitted non‑binding offers to acquire BdM Banca, the former Banca Popolare di Bari, as the privatization process moves to its next phase. The bank, valued at roughly €500 million, posted a €31.8 million net profit in 2025 and holds a strong capital ratio, making it attractive for expansion in Southern Italy. The Italian Ministry of Economy and Finance and labour unions are reviewing the proposals, with the final binding offers expected after the summer and a target closing in autumn 2026.

In a separate development, Banco BPM completed a €500 million green Tier 2 bond issuance, the first of its kind by an Italian bank. The 11‑year‑plus bond, priced at 99.59 and paying a 4.125 % coupon until early 2033, will fund eligible green loans and raises the bank’s total ESG issuances to €8.5 billion. Investors were mainly ESG‑focused fund managers, with significant participation from France, the UK, Ireland and Italy.