Italian bank Intesa Sanpaolo said last week it is assessing a potential tie-up with the country largest insurer Assicurazioni Generali, as it seeks growth in asset management, private banking and the insurance sector.
With reference to recent news in the press regarding a possible M&A transaction with Assicurazioni Generali, Intesa Sanpaolo said it is interested in industrial growth in synergy with its banking networks, including through possible international partnerships. The bank confirmed it is currently assessing possible industrial combinations with Assicurazioni Generali.
“The management of Intesa Sanpaolo regularly examines options for growth, both internal and external, including those proposed by investment banks,” the bank said in a statement.
“In light of the above, the management of Intesa Sanpaolo carefully examines, and will examine, any possible opportunities to strengthen its competitive positioning and, therefore, the group’s future financial performance,” it added