Unipol President outlines MPS and Bper Banca merger plan

Unipol President Carlo Cimbri has outlined a strategic plan to reshape the Italian banking landscape through a potential consolidation between Monte dei Paschi di Siena (MPS) and Bper Banca. The project aims to create Italy’s second-largest banking group, with MPS acting as the lead entity in the aggregation.

The proposed restructuring is expected to occur in two stages. The first phase will focus on developing synergies between banking and insurance services. The second phase involves the merger of MPS and Bper, which could result in a group managing over 250 billion euros in assets, approximately 230 billion euros in deposits, and a market share of 14% to 15% in the Italian banking sector.

Cimbri emphasized that the headquarters would remain in Siena to preserve its historical significance, stating that ‘Rocca Salimbeni is a symbol for 500 years.’ The resulting group would serve roughly 8 million customers through a network of nearly 3,000 branches and approximately 30,000 employees.