TURIN (Reuters) - Italy's biggest retail bank, Intesa Sanpaolo ISP.MI does not see any M&A opportunity in Europe in 2020, Chief Executive Carlo Messina said on Tuesday.
European banking regulators have indicated they would view cross-border mergers favorably but Messina said any deals could take time.
“I believe that the path of consolidation of the European banking sector will take much longer,” he said at the sidelines of an event in Turin, adding that European regulation made it more difficult to achieve synergies needed for a successful merger.
Reporting by Andrea Mandala, writing by Gianluca Semeraro, editing by James Mackenzie
Our Standards: The Thomson Reuters Trust Principles.