The CEO of Italian banking group Capitalia, Matteo Arpe, has revealed that the finance firm is to focus on seeking both merger opportunities and internal growth to build upon its recent profit rise.
<p>The bank recently posted a E1.16 billion net profit for 2006, as opposed to E1.04 billion the previous year. The profit surge was driven primarily by higher profit from its investments and higher net interest income, MarketWatch reported. <br /><br />On the same day the bank released its annual results, Mr Arpe unveiled the company's plan to concentrate on internal growth, but without ignoring the opportunities for mergers and acquisitions. <br /><br />ABC Money claimed that the bank has forecast 2007 revenue growth to be in line with 2006, which saw a 7.3% rise.</p>