UniCredit’s New Business Plan Will Focus on Organic Growth, Not Mergers
The UniCredit SpA bank building in the Porta Nuova district in Milan
Photographer: Geraldine Hope Ghelli/BloombergThis article is for subscribers only.
UniCredit SpA’s new business plan will be based on organic growth, Chief Executive Officer Jean Pierre Mustier told Milano Finanza.
“The plan will have organic growth as its precondition,” Mustier told the newspaper in an interview published on Saturday. The Milan-based bank’s CEO reiterated that at the moment he doesn’t see a combination with another major lender as a possibility. UniCredit was said to have hired advisers to work on a potential takeover of Germany’s Commerzbank AG earlier this year.