“I think we will be among the first to throw ourselves into the aggregation arena: however, let's see if there are opportunities, then we will throw ourselves”. This was said yesterday by Giuseppe Castagna, managing director of Banca Popolare di Milano, on the sidelines of a conference in Milan.
Castagna then underlined that “just as companies must grow and become larger, so too banks must grow and become larger. But they have to do it right. We are working on it and we have to work on it, we are taking a bit of a long time also because the provisions of the Bank of Italy are not yet in place. When they arrive, the 18 months will start (within which to become a spa, ed) and every month could be the right one” for an aggregation.
This is a "unique opportunity", continued Castagna, confirming that from now on Bpm will have to choose an advisor and evaluate possible scenarios.
As for the recent statements by the mayor of Milan, Giuliano Pisapia, who hoped that Bpm would not change its name, Castagna noted that “if one has to do banking, the ideal place is Milan. If you want to make a large bank, it is inevitable to have an important structure in Milan, it seems natural to me. However, this does not mean that we will be the ones to lead the aggregations, because there are discussions to be had with potential partners".
