UniCredit CEO Andrea Orcel has confirmed that the Italian banking group is interested in acquisition opportunities, especially in Central and Eastern Europe, but will continue to take a disciplined approach, the financial portal portfolio.hu quotes Reuters news agency as saying.
In an interview with the Frankfurter Allgemeine Zeitung (FAZ), Orcel said that “we are likely to make some acquisitions in the next few years, especially in Central and Eastern Europe.”
Orcel spoke openly about his belief that consolidation is needed within the sector. At the same time, he consistently maintained that any potential transaction involving UniCredit should be an excellent fit with the company's industry model and should significantly increase the group's profits to ensure the expected return for investors.
Following the conclusion of negotiations for the acquisition of Italian state-owned Monte dei Paschi di Siena in 2021, UniCredit acquired a 9% stake in Greek Alpha Bank and agreed to purchase a majority stake in Alpha's Romanian operations.
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