UniCredit
About UniCredit
UniCredit was formed from the 1998 merger of several Italian banks including Credito Italiano and Rolo Banca. The bank expanded aggressively, acquiring HVB Group in Germany in 2005 and Bank Austria. UniCredit became one of Europes largest banks by assets, operating in 13 countries. The bank suffered in the European sovereign debt crisis, requiring recapitalization. Under CEO Andrea Orcel from 2021, UniCredit has improved profitability significantly. Orcel, a former investment banker, restructured the bank and improved capital returns. UniCredit acquired the Russian business of Societe Generale in 2016 but sold it after the Ukraine invasion in 2022. The bank has over 15 million customers internationally.
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