Banco BPM is evaluating possible acquisition and merger opportunities in Italy, according to Reuters, while CEO Giuseppe Castagna indicated a firmer approach to potential transactions.
Castagna has repeatedly said the bank is prepared to consider further consolidation measures after Banco BPM acquired fund manager Anima last year and avoided an acquisition approach by UniCredit.
His comments came after shareholders renewed his tenure as CEO and as market talk intensified about the possibility of a combination with Monte dei Paschi di Siena.
Crédit Agricole is the largest shareholder of Banco BPM. Banco BPM also owns a 3.7% stake in Monte dei Paschi and, last month, was involved in a difficult shareholder vote that returned the Tuscan lender’s ousted chief executive to office.
Castagna said the bank was considering deals of different sizes involving lenders as well as other fee-generating businesses.
“It’s hard to say which one will materialize, but we are reviewing all situations,” he told analysts on a post-earnings conference call.
He again said that Crédit Agricole’s Italian business and Monte dei Paschi remained logical merger candidates due to existing shareholder ties, adding that timing would be a key factor and that the current moment might not be right for a deal.
“Let’s wait and see to understand what the other parties are willing to do,” he said.
Earlier this year, Crédit Agricole obtained approval from the European Central Bank to increase its stake in Banco BPM above 20%.
During the third quarter of 2025, Crédit Agricole carried out derivative operations related to Banco BPM shares, allowing it to add another 0.3% to its position.
These derivatives are expected to be settled by physical delivery, which will bring Crédit Agricole’s total stake in Banco BPM to 20.1%.
“Banco BPM Weighs Trading Options in Domestic Market: Report” was originally created and published by Retail Banker International, a brand owned by GlobalData.
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