Intesa Sanpaolo considers acquisitions in Romania

Intesa Sanpaolo, the biggest Italian bank, formed by a merger between Banca Intesa and Sanpaolo IMI, is considering boosting its operations in Romania by means of acquisitions, as well as by investing in its organic growth, according to the bank’s business plan for 2007-2009, which has been approved by the Supervisory Board. Alongside Russia, Romania is the market with the weakest presence within the international division of the Italian bank, but in the cases of both countries, the bank is “targeting a strong growth”. “Penetration is still limited. We anticipate a strong growth, both in terms of volumes and in terms our market share. We intend to develop in specific geographic areas, based on an extensive distribution network, and to utilise the group’s best commercial and crediting practices to the fullest, as well as taking into account external growth opportunities,” states the business plan for Intesa Sanpaolo.