BANCA MONTE DEI PASCHI DI SIENA S.P.A.

(BMPS)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

UniCredit chairman says banking M&A needs European focus -La Stampa

12/27/2021 | 05:13am EDT
Italian Economy Minister Pier Carlo Padoan speaks during a panel entitled

MILAN (Reuters) - Banking mergers should be aimed at European expansion, UniCredit Chairman Pier Carlo Padoan said in a newspaper interview on Monday, warning against deals that make lenders more domestically focused.

UniCredit last year lost its domestic leadership to rival Intesa Sanpaolo, which took over mid-sized UBI to create a national champion. The Spanish market has also been consolidating, with Caixabank's acquisition of Bankia and Unicaja's deal to buy Liberbank.

Asked about the potential for post-pandemic banking mergers and acquisitions (M&A) Padoan told La Stampa daily he expected the situation to provide an incentive for the sector to consolidate further.

"We must not let banks ... become more national instead of becoming more European," he said.

"There is a scenario, not necessarily the most likely one, in which there could be more concentration in Italy and fewer cross-border deals. This would be like going against the European Banking Union."

With operations spanning 13 markets, UniCredit is Italy's only bank that regulators deem to be of global systemic relevance.

Under new Chief Executive Andrea Orcel, UniCredit in October walked away from a deal with Italy's government to take on bailed-out rival Monte dei Paschi.

Asked if the deal could be revisited, Padoan said the window of opportunity had closed and UniCredit was focused on implementing the strategic plan Orcel unveiled this month.

Orcel, a veteran dealmaker formerly at UBS and Merrill Lynch, has not ruled out M&A, saying UniCredit could consider deals that strengthen its franchise and returns for shareholders.

Under its plan through 2024, UniCredit intends to return 16 billion euros to shareholders through dividends and buybacks.

Padoan reiterated that the bank would consider potential M&A options in Italy and abroad if they are in the interest of shareholders.

Turning to organisational changes triggered by the COVID-19 pandemic he said that UniCredit wanted to turn remote working into an opportunity.

"We currently require staff in central offices to come in two days a week. Once the emergency is over, we'll switch to a hybrid model on a voluntary basis. Naturally in branches the proportions will have to be very different."

(Reporting by Valentina Za; Editing by Christian Schmollinger and David Goodman)

By Valentina Za


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANCA MONTE DEI PASCHI DI SIENA S.P.A. 3.33% 0.7445 Delayed Quote.-19.23%
CAIXABANK, S.A. 1.48% 3.285 Delayed Quote.34.09%
INTESA SANPAOLO S.P.A. 0.20% 1.9792 Delayed Quote.-13.14%
UNICAJA BANCO, S.A. -0.96% 0.9275 Delayed Quote.7.77%
UNICREDIT S.P.A. 0.44% 10.406 Delayed Quote.-23.51%
All news about BANCA MONTE DEI PASCHI DI SIENA S.P.A.
05/23Italy expects to cap MPS cash call at $2.6 billion in latest plan-sources
RE
05/20Italy expects to cap MPS cash call at $2.6 billion in latest plan -sources
RE
05/12Proxy Adviser ISS Recommends Leonardo Shareholders Back CEO
MT
05/12ALESSANDRO PROFUMO : Proxy advisers split over vote on Leonardo CEO liability action
RE
05/06Banca Monte dei Paschi di Siena S.p.A. Reports Earnings Results for the First Quarter E..
CI
05/06Decline and near fall of Italy's Monte dei Paschi, the world's oldest bank
RE
05/06Deutsche Bank Absolved on Appeal Over Alleged Participation in Monte dei Paschi Scandal
MT
05/06Deutsche Bank, Nomura win appeal in Monte dei Paschi case
RE
05/06TRANSCRIPT : Banca Monte dei Paschi di Siena S.p.A., Q1 2022 Earnings Call, May 06, 2022
CI
05/06Monte dei Paschi swings to profit ahead of new plan in June
RE
More news
Analyst Recommendations on BANCA MONTE DEI PASCHI DI SIENA S.P.A.
More recommendations
Financials
Sales 2022 2 953 M 3 169 M 3 169 M
Net income 2022 115 M 123 M 123 M
Net Debt 2022 - - -
P/E ratio 2022 6,37x
Yield 2022 -
Capitalization 746 M 801 M 801 M
Capi. / Sales 2022 0,25x
Capi. / Sales 2023 0,25x
Nbr of Employees 21 183
Free-Float 31,5%
Chart BANCA MONTE DEI PASCHI DI SIENA S.P.A.
Duration : Period :
Banca Monte dei Paschi di Siena S.p.A. Technical Analysis Chart | BMPS | IT0005218752 | MarketScreener
Technical analysis trends BANCA MONTE DEI PASCHI DI SIENA S.P.A.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 6
Last Close Price 0,74 €
Average target price 0,93 €
Spread / Average Target 24,2%
EPS Revisions
Managers and Directors
Luigi Lovaglio Chief Executive Officer & General Manager
Giuseppe Sica Chief Financial Officer
Maria Patrizia Grieco Chairman
Vittorio Calvanico Chief Operating Officer
Ettore Carneade Head-Controls, Compliance & Claims Area