Intesa Sanpaolo: Messina closes at M&A, but there is a desire to grow in private banking

Intesa Sanpaolo is not considering any M&A agreement and the excess capital will not be used for M&A in the coming years. The CEO of Intesa Sanpaolo, Carlo Messina, was categorical in the conference call with the analysts. However, Intesa does not rule out some small movements in private banking and Messina has explained the intention to strengthen the private banking activity and therefore the bank could consider selective purchases or team hiring. “Switzerland offers some opportunities to strengthen our presence there,” he added.