Unicredit on Wednesday announced the third edition of its 'UniCredit for Italy' plan providing 10 billion euros in loans to support business growth, with a focus on micro enterprises, small and medium-sized enterprises and the non-profit sector.
Speaking from New York, CEO Andrea Orcel said the new package aims to support investments, working capital and liquidity, and may include subsidized loans.
Forty percent of the available resources are earmarked for southern Italian regions.
"The role of businesses is fundamental for our country," said Orcel.
“They have shown extraordinary resilience and adaptability in a context of high rates, inflation and geopolitical tensions,” he continued.
"In 2023, Italy recorded higher-than-expected growth, withstronger confidence in the national entrepreneurial system.
Business fundamentals remain solid, the outlook is reassuring, and foreign demand for the current year is seen to beimproving," added Orcel.
"Our role is to support clients and the community through our instruments. We provide support to companies, especially smaller ones, to accelerate their growth path," continued the CEO, adding that the new plan "matches and complements the new program of state guarantees for small and medium-sizedenterprises, the country's scheme".
On Monday Unicredit posted a record net profit of 8.6 billion euros in 2023, up more than 50% over the previous year and 700 million euros more than expected by analysts.
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