Banco BPM to be cautious over M&A, says CEO
Banco BPM [BIT:BAMI] is to exercise caution over M&A operations, Italian-language daily Il Messaggero reported, citing CEO Giuseppe Castagna. The item cited Castagna as saying that the market advised against carrying mergers with other banks and that Banco BPM was presently fully focused on carrying out its strategic plan.
Castagna added that once the economic situation had stabilised there would be scope for further consolidation in the banking sector, the report continued.
The item noted that at the beginning of 2018, Castagna had said Banco BPM would look to carry out a merger in 2019.
Banco BPM has a market cap of EUR 3.09bn.