(Image source: Imagoeconomica)
Banco Bpm, Castagna: “No to new M&A”. But the number one of the Crt Foundation doesn’t think the same way
Palenzona sees room for further mergers in the Italian banking sector. “The banks in which we are shareholders have managers who have to make decisions and make proposals. I speak as a citizen and I say that in the system there are still possibilities for aggregations”, said the president of Crt. Foundationwhich holds stakes in both bpm bank that in Unicrediton the sidelines of Bain Banking Event 2023 Tuesday 23 May.
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As it reports Milan Financethe CEO of Banco Bpm does not think the same way Joseph Chestnut, who at the same event declared: “For the moment we see the stand alone route as the best possible one. We are happy with what we are doing. Once we have good results after so much effort and reorganization, we are pleased to be able to bring home the maximum possible. When you carry out operations, it ends up that you get a little distracted”.
“I see it as a concrete risk credit crunch due to the increase in the cost of money” and that is to the interest rate hikes of the European Central Bank. Another concrete risk, according to Castagna, is due “to the restriction by the regulator which continues to request capital”.
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But the number one of bpm bank it does not stop there and also touches on the issue of current accounts which, according to the Finance Minister, Giancarlo Giorgettimust be remunerated since the banks charge the rate hike to households and businesses on loans. On the topic, Chestnut he said that “today we are in a position to be able to offer customers anything they want but don’t ask us to pay checking accounts as if they were investments”.
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