(Alliance News) - The restructuring of BFF Bank is gaining momentum as the lender seeks an industrial or financial partner to take a stake or acquire strategic assets, following the partial administration imposed by the Bank of Italy in March, Il Messaggero reported on Wednesday.

The move comes as the institution works to bolster its capital position after its Total Capital Ratio fell below the SREP requirement set by regulators.

According to Il Messaggero, advisors Mediobanca and Morgan Stanley have sent invitation letters to a shortlist of potential counterparties, including Cherry Bank, Banca CF+, Amco, and funds JC Flowers and Cerberus.

Options under consideration include a capital injection, the sale of specific assets, or a potential bid for control of the bank. In parallel, BFF is reportedly working on a securitization of up to EUR1.2 billion with JPMorgan and PwC.

By Claudia Cavaliere, Alliance News reporter

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