In Italy, BANCA POPOLARE DI BERGAMO VARESINO and BANCA POPOLARE DI VERONA have signed a tentative agreement for a merger that would create a venture with EUR 2.7 billion in stock market capitalisation. The new venture, which will be the biggest of Italy's cooperative banks, will consolidate some 1,120 branches with more than 30 billion euros in assets under its management, net profits of around EUR 260 million and 14,000 employees.