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Unicredit: ready against shocks, mergers only if conditions

2022-09-21T10:41:13.563Z


Unicredit is ready to absorb the incoming economic shocks, given that it enters "from a position of extreme strength". This was stated by Unicredit CEO Andrea Orcel in Rome for the presentation of Teach for All. (ANSA)


(ANSA) - ROME, SEPTEMBER 21 - Unicredit is ready to absorb the incoming economic shocks, given that it enters "starting from a position of extreme strength".

This was stated by the CEO of Unicredit AndreaOrcel in Rome for the presentation of Teach for All. "We have the highest capital in the sector, we generate capital, we have reduced bad loans and we have further" counter-cyclical buffers.


   Furthermore, the increase in rates increases revenues and this will help to "absorb the bad debts that will undoubtedly increase".

And on the subject of mergers "if we have the opportunities" and the "conditions right in a country" we will make aggregations and mergers "but this does not mean that tomorrow morning I announce an operation": Lo to "I say what any bank or company CEO would say".

"Since we have been here we have always behaved in a linear manner."

Returning to the non-merger with MPS, Orcel explained how "the parameters we had for the operation we had shared with the government. We did not succeed not for malice and in a constructive way we pulled back, not only us but also the other party".

(HANDLE).


Source: ansa

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