BERGAMO: Italian cooperative lender UBI Banca has no specific merger plans on the table at the moment, the bank's chief executive said on Saturday.
"There is no dossier open," Victor Massiah said at the bank's shareholder meeting.
UBI was the first Italian cooperative lender to convert into a joint-stock company following a government reform aimed at encouraging mergers in the sector.
Peers Banco Popolare and Banca Popolare di Milano recently agreed a merger deal.
Massiah said management intended to present a new business plan before the end of the first half of the year.
Comments
Comments are closed.