Sunday May 11, 05:39 PM
UBI Banca interested in buying branches, mergers
MILAN (Thomson Financial) - UBI Banca (Milan: UBI.MI - news) is interested in acquiring branches and in merging with other co-operative banks, daily Il Sole 24 Ore (Milan: S24.MI - news) said on Sunday, citing CEO Giampiero Auletta Armenise.
Armenise said UBI will look at the branches that Banca Monte dei Paschi (Milan: BMPS.MI - news) di Siena SpA must sell to ease competition concerns, the newspaper reported.
He also said first-quarter net profit rose slightly compared with a year earlier.
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