Banco BPM weighs deal options in home market – report

Banco BPM is assessing potential acquisition and merger opportunities in Italy, according to Reuters, as chief executive Giuseppe Castagna indicated a firmer approach to possible transactions.

Castagna has repeatedly said the bank is prepared to consider further consolidation moves after Banco BPM acquired fund manager Anima last year and avoided a takeover approach from UniCredit.

His remarks came after shareholders renewed his mandate as chief executive and as market talk intensified over the possibility of a combination with Monte dei Paschi di Siena.

Crédit Agricole is Banco BPM’s largest shareholder. Banco BPM also holds a 3.7% stake in Monte dei Paschi and, last month, was involved in a difficult shareholder vote that returned the Tuscan lender’s removed chief executive to the role.

Castagna said the bank was considering deals of different sizes involving lenders as well as other businesses that generate fees.

"It is difficult to say which one will materialise, but we are reviewing all ⁠situations," he told analysts on a post-results conference call.

He said again that Crédit Agricole’s Italian business and Monte dei Paschi remained logical merger candidates because of existing shareholder links, while adding that timing would be a key factor and that the present moment might not be suitable for an agreement.

"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 holding in Banco BPM to above 20%.

During the third quarter of 2025, Crédit Agricole entered into derivative transactions connected to Banco BPM shares, allowing it to add another 0.3% to its position.

These derivatives are expected to be settled through physical delivery, taking Crédit Agricole’s overall stake in Banco BPM to 20.1%.

"Banco BPM weighs deal options in home market – report " was originally created and published by Retail Banker International, a GlobalData owned brand.

The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.