December 20, 2019 / 8:02 AM / a month ago

Intesa buys majority stake in health insurance RBM for 300 mln euros

ROME, Dec 20 (Reuters) - Italian bank Intesa Sanpaolo said on Friday it had agreed to buy a majority stake in family-owned health insurer RBM for 300 million euros.

Italy’s biggest bank by number of branches has been working on growing its insurance business to prop up profits at a time when negative interest rates make lending unprofitable. (Reporting by Giselda Vagnoni)

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