February 7, 2020 / 11:09 AM / 12 days ago

Italy's Credem looking at M&A but not interested in bank rescues

MILANO, Feb 7 (Reuters) - Italy’s regional lender Credem could look at potential acquisition targets but it is not interested in distressed banks, General Manager Nazareno Gregori said on Friday.

Credem is often seen as a player in potential M&A deals in the Italian banking sector given its good results and strong financial health.

“We’re interested in growth through M&A and we’re not giving up,” Gregori told analysts adding that the bank is not interested in taking part inany “emergency” rescue plans.

“We’re very careful about what’s going on in the market”, he said.

Reporting by Andrea Mandalà; editing by Stephen Jewkes

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