Italy's MPS Seeks to Maximize Synergies Following Mediobanca Acquisition
CEO Luigi Lovaglio aims to complete the group reorganization by year end to maximize savings. The bank reported strong profits despite a merger probe.
Insights:
Banca Monte dei Paschi di Siena S.p.A. announced on February 10, 2026, that it aims to complete the reorganisation of its combined group with Mediobanca Banca di Credito Finanziario S.p.A. by the end of the year. Chief Executive Officer Luigi Lovaglio indicated that the bank will seek to maximise cost savings from the new structure following the acquisition, with projected savings estimated at approximately €700 million. This announcement comes as a decision on potential further steps, including the possible delisting of Mediobanca, remains pending ahead of a strategy day scheduled for February 27.
