Credito Valtellinese says may consider M&A activity after EU stress tests

MILAN Tue Jun 3, 2014 11:41am EDT

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MILAN (Reuters) - Italian mid-sized lender Credito Valtellinese expects consolidation in the Italian banking sector after a health check of European lenders this year and could consider joining in, its CEO Miro Fiordi said on Tuesday.

However, there are no M&A plans on the table at the moment, he said.

"As of today there is nothing, either with (Banca Popolare di) Sondrio or with other banks," Fiordi said, responding to press reports about a possible tie-up with Popolare di Sondrio.

"There can be a period of possible consolidation (after the EU health check) between banks that are similar and healthy, and if there are opportunities we are ready to assess them," he said.

(Reporting by Gianluca Semeraro, editing by Silvia Aloisi)

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