Italy-based UniCredit is planning to expand its presence in Middle East, Asia and Latin America, the bank’s CEO Federico Ghizzoni said.
The bank is seeking to boost its presence outside Europe and may open new offices and branches in those regions to assist the bank’s clients, reported Bloomberg.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Under the expansion plan, the bank is planning to sign commercial agreements with local banks boosting offer for finance, advisory and global transaction banking services for European customers as well as to increase profitability.
As part of a plan, the bank is also slashing costs and selling assets at Pioneer Global Asset Management and UniCredit Credit Management Bank.
Additionally, UniCredit has unveiled plans to sell its bad loans unit, UniCredit Credit Management Bank (UCCMB).
Ghizzoni added that the bank is still awaiting offers from two bidders and it would decide on the sale by next week.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"By mid-October we will decide whether to go ahead with one buyer or stop the process," Ghizzoni said.
