Credem is evaluating M&A opportunities, general manager says
Credem is evaluating M&A opportunities, general manager says MILAN, Aug 5 (Reuters) - Italian regional lender Credem EMBI.MI is evaluating external growth opportunities, supported by its strong capital position, General Manager Stefano Morellini said on Wednesday, signalling an interest in expansion through acquisitions.
"Organic growth remains our medium-to-long-term strategic priority, but our strong capital position gives us the flexibility to evaluate potential external growth opportunities, which we are doing," Morellini told analysts after the bank reported first-half results.
His comments come amid Italian media reports that Credem is among bidders interested in BdM Banca, the former Banca Popolare di Bari, which is being sold by state-owned Mediocredito Centrale as part of a privatisation process.
(Andrea Mandalà, editing by Gavin Jones)
((andrea.mandala@thomsonreuters.com; +390680307738;))
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