According to Reuters, the Italian bank currently holds the number five position and has become a mid-sized bank after the Italian banking sector experienced a number of mergers.
The Italian banking market has been consolidating rapidly recently, having witnessed a merger between Banca Intesa and Sanpaolo Imi to create Intesa Sanpaolo, as well as the proposed merger between the two banking behemoths Unicredito Italiano and Capitalia.
In light of this, Banca Monte dei Paschi di Siena (BMPS) believes that there is room for another banking giant, one that will be larger than the current BMPS.
We think there is room for a third bank with a market share bigger than ours, with more bank branches and clients, said Giuseppe Mussari, chairman at BMPS, as cited in Reuters. We think our business plan can accomplish that.
Reuters revealed that the bank has already appointed a merger adviser and is currently looking for potential partners.
