Mediobanca CEO expects second-tier banks to look at M&A in 2020
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MILAN (Reuters) - Second-tier banks in Italy, Spain and possibly Germany are likely to consider mergers this year in a bid to boost returns which are insufficient to cover their cost of equity, the chief executive of investment bank Mediobanca said.Speaking at a BreakingViews event in Milan on Wednesday, CEO Alberto Nagel said ongoing pressure from low rates and a possible rebound in loan loss provisions from new, so-called 'calendar provisioning' rules were all factors pushing lenders to..