“The restructuring is not fully over, I think it’s going to take a couple of years,” Bini Smaghi told Bloomberg Television when asked at what point the French lender would start thinking about substantial acquisitions.
Lorenzo Bini Smaghi
Photographer: Chris Ratcliffe/Bloomberg
“But the environment is changing, the valuation of banks has changed. So shareholders are starting to ask, ‘What’s next? Where is growth coming from?’” he said. “That’s where I think some consolidation and acquisitions ...