MILAN, Nov 8 (Reuters) - Intesa Sanpaolo could consider additional acquisitions of small private banks in Switzerland, Chief Executive Carlo Messina told Bloomberg TV on Monday, ruling out any significant expansion abroad in the coming years.

Intesa is due to present a new business plan in February after buying mid-tier peer UBI last year to control more than a fifth of the Italian market.

Messina said it would be easy for Intesa to boost profit through another domestic acquisition, but its market share was such that it did not allow it to expand further.

At the same time, opportunities for foreign growth are scant, Messina said, because digital progress in the industry made a retail presence unnecessary unless branches are used to sell insurance and wealth management products.

"So in theory private banking and asset management targets would be of interest for the company [outside of Italy] but prices embedded in these targets are so high that it makes it impossible to create value for shareholders for the time being," Messina said.

Still, he saw room for targeted deals in Switzerland, where Intesa's private banking arm Fideuram last year bought private bank REYL & Cie following the acquisition of Banque Morval in 2017.

"Switzerland is a country where we are planning to grow through selective acquisitions of small targets. This will be equivalent to the hiring of private bankers, it's really small and selective," he said.

A business model geared towards wealth management and insurance has allowed Intesa to cope better than many rivals with negative interest rates.

Messina said Intesa was also well placed to benefit from a rebound in rates and would add 1.2 billion euros ($1.39 billion)to its net interest income if the Euribor rate went from minus 0.5% to zero.

($1 = 0.8655 euros) (Reporting by Valentina Za, editing by Giulia Segreti and Louise Heavens)