The new group created by the merger of Italian banks BANCA INTESA and SANPAOLO IMI will have a market capitalisation of €65 billion, making it the world's 7th largest bank. It will have 6300 branches in Italy (13 million customers; 20% market share) and 1400 in Europe (6 million customers) and will employ some 102,000 people. The new group, however, may have to give up 10% of its 6000 branches in Italy to satisfy competition rules.