“As many bankers fled Italy’s financial capital for second homes in the mountains or lakes at the start of a coronavirus lockdown in March, Victor Massiah rushed instead to rent a house within walking distance of UBI Banca’s Milan offices.” – by Andrea Mandala, Valentina Za and Pamela Barbaglia
Italy bank showdown looms in test for European consolidation (Reuters)
ECB redoubles campaign for banking mergers (The Irish Times)
“The European Central Bank (ECB) has redoubled its efforts to encourage mergers and acquisitions in the euro zone banking sector by seeking to tackle market myths and launching a public consultation on its approach to consolidation.” – by Joe Brennan ECB Public Consultation Announcement here.
The Appeal Of Investing In Banks Is Very Strong (The Corner)
“If we assume there will be no break-up of the euro, and that banks will not need significant capital hikes, the appetite for investment is very strong. Average revaluation expectations are close to 100% within a 1-2 year period.” – by Ofelia Marín-Lozano