Speaking on CNBC’s Squawk Box on Friday, Carlos Messina, CEO of Intesa Sanpolo, said: “I think next year, in 12 months, there will be some M&A deals in the country. I don’t know what kind of bank it may be. To do. “
Italy is the busiest market for bank mergers in Europe in 2021, S&P Global Market Intelligence said in a letter in March.
The ratings and analysis firm said that the large number of Italian banks, the relative size of the market taken by the top banks and the need for digitization increase the pressure on small lenders to consolidate with other lenders.
Italian banks BPM and BPER Banka said in December that they were considering a merger, which is expected to take place in late 2020. Media reports have also suggested that Banco BPM had discussed the possibility of a merger with other lenders, but they have not received ‘nothing can happen.
In addition, the Italian government will have to settle its stake in Monte de Paschi di Siena – in 2017, when Italian taxpayers freed the struggling bank – in the coming months.
“It is clear that in Italy we are the leader by definition – and will remain so,” Mestina said of Intesa Sanpaolo, but said the market needed bigger lenders.
“Italy needs to have two more players who can have a good market share because concentration is the future,” Messina added.
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