A PYMNTS Company

Italy: UniCredit affirms commitment

By  |  May 9, 2019

Italy’s biggest bank by assets UniCredit said it remained committed to the euro zone’s third biggest economy even after announcing it would reduce its exposure to Italy.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    According to Reuters UniCredit unveiled this week a series of measures to boost its financial strength, including the sale of a 17 percent stake in Italian online banking unit Finecobank and a plan to decrease its Italian government bond holdings.

    Asked whether the bank was reducing its exposure to Italy in preparation for a possible cross-border deal, Chief Executive Jean Pierre Mustier told reporters: “I would like to stress that our commitment to Italy has never been stronger.”

    He added that the bank had increased lending to Italian clients by 4.4 percent from last year and was proud to be headquartered and listed in Italy.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.