Italian banking merger shows change in attitudes
Italian banking took an overdue step into the 21st century last week with the merger of Banca Intesa and Sanpaolo IMI, a move set to create a €65 billion banking behemoth and a European top-ten player.
Italian banking took an overdue step into the 21st century last week with the merger of Banca Intesa and Sanpaolo IMI, a move set to create a €65 billion banking behemoth and a European top-ten player.
The new bank will also be Italy’s number one, boasting 13 million customers and a 20 per cent Italian market share.
It changes the face of an industry typified to date by hundreds of smaller, locally focused operators.
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