Unicredit is one of the most famous and widespread banking groups in our country, as well as one of the most “European” ones, despite being formally born just over 20 years ago.
Like all large banking groups, Unicredit has had to face a phase of profound economic crisis since 2008, the year of the international economic crisis, but it has also been at the center of various capitalizations and various internal problems. The last few years have been complex for Unicredit, which has seen continuous changes at the top even in territories beyond national borders (the banking group is present in 18 countries around the world), and over the years it has needed the support of the Italian state. to avoid bankruptcy.
Problem situation
The war in Ukraine affected the markets and Unicredit’s shares were also heavily influenced, to the point that the CEO Orcel expressed his intention to abandon the Russian market, to avoid incurring the so-called stagflation, i.e. a general increase in prices. is a lack of economic growth in real terms.
Why could UniCredit fail? Here’s what the expert says
The last few months have been of “transition” for Unicredit from the “management” point of view: For some time now there has been a real “brawl” to save historical names such as Banca Monte dei Paschi di Siena. In essence, attempts are being made to reduce the costs and losses perpetuated in recent years with “alliances” and unrealized mergers between banking institutions, with the support of the executive.
For some years the administration has communicated that within a few years Unicredit will reduce 5,000-6,000 workers and the closure of 450 branches by 2023 in order to limit costs: for now the hypothesis of bankruptcy seems to have been closed even if the policy of reducing costs may not be enough to guarantee Unicredit the possibility of “walking without help” in the near future.
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