BNP Paribas on Tuesday extended its reach outside France when it agreed to take full ownership of Italy’s second-largest consumer finance house in a deal with Intesa Sanpaolo worth up to €1.15bn ($1.66bn).

The French group, which earlier this year became the eurozone’s largest bank by deposits when it took over Fortis of Belgium, said it would increase its stake in Findomestic from 50 per cent to 75 per cent this year for €500m.