2020 could be a year of marriages in the European banking sector that for a long time awaits the birth of a continental giant capable of rivaling the big made in the USA. When it comes to mergers and acquisitions, many investors immediately think of Germany, where it is Deutsche Bank is Commerz Bank are grappling with their respective restructuring plans after the (shipwrecked) merger attempts of 2019. In reality, however, the two German banks could decide to take their time, leaving the reins of banking risk in the hands of two other European institutions: Société Générale and Ing Group.
The Sun 24 hours according to which the recent openings of the ECB Supervision could favor new attempts at fusion at the continental level, weaving a direct line between Paris and Amsterdam. The Single Supervisory Mechanism (SSM) of the ECB has announced a series of changes aimed at removing the obstacles that discourage cross-border mergers, a decision that could therefore push the European giants to get married to strengthen themselves at a continental level and resolve internal difficulties that have been keeping many top managers from sleep for some time now.
The Dutch Ing is considered by the market “the European bank more ready to play an aggregator role”, writes the Milanese economic newspaper. SocGen, for its part, is carrying out a restructuring plan and two years ago it had already attempted to marry another bank. At the time, Unicredit was in the sights, but the operation was soon shelved.
With the arrival of the new year, the two banks could begin to move on the market and, why not, also turn their gaze towards each other. There MY BAG in the meantime it seems to appreciate the market rumors: in Paris the SocGen share gains almost 2% to 30,2 euros, while in Amsterdam the ING shares rise by 2,6% to 10,36 euros.
