Two symbolic transactions marked the year for European banks: the marriage in Italy of Intesa San Paolo with UBI Banca, and, in Spain, of CaixaBank with Bankia. But the wave of consolidation is still long overdue.
The engine restarts but does not run at full speed. After years without a major operation in Europe, bank mergers finally resumed in the Old Continent in 2020.
With banks constrained by a complex economic situation and low valuations, the merger operations in Europe have been their best year since 2016, even if we are mainly talking here of medium-sized establishments, more than large cruise ships.