The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Western Europe: M&A will not solve banks’ problems, warns SSM’s Angeloni

Brexit-sparked competition from US banks a good thing, ECB supervisor says; Italian populism ‘a burdensome tax’ on banks.

One of Europe’s top banking supervisors has sounded a cautious note on the prospects for more bank M&A, as speculation mounts for a new wave of European mergers.


Ignazio Angeloni

Ignazio Angeloni, board member at the Single Supervisory Mechanism (SSM) and a frontrunner to replace outgoing chair Danièle Nouy, said the European Central Bank (ECB) is not against the possibility of large mergers.

“We want the banking sector to be safe and efficient, to be capable of providing high-quality services to individuals and firms, and ultimately promoting growth and collective welfare,” he tells Euromoney in an interview in Frankfurt.

“Consolidation can be a means to achieve this, under certain conditions.”

However, regarding domestic deals – and in comments that might be relevant to a lately much-discussed merger between Deutsche Bank and Commerzbank – Angeloni said it is crucial for bigger banks to strengthen their risk profile first, especially when the banks are weak.

“When we receive a proposal, our main concern is that the resulting entity is strong from the beginning, right after the merger,” he says.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree