UniCredit CEO Says Mergers in Europe Will Be Very Difficult

The transcript discusses UniCredit's achievements, growth strategies, and challenges in mergers and acquisitions. It highlights the importance of organic growth, the strategic focus on Germany and Italy, and the health of the Italian banking system. The future of European banks, including the need for consolidation and larger banks to support SMEs, is also analyzed.

What was one of the key achievements of the Transform 2019 plan?

• Decrease in top line revenues

• Reduction in profitability

• Increase in non-performing assets

• Cost reduction

Which country is highlighted as a strategic focus for growth outside of Italy?

• France

• Portugal

• Germany

• Spain

What is one of the financial measures UniCredit is focusing on to improve its risk profile?

• Improving dividend payouts

• Reducing capital strength

• Increasing non-performing assets

• Decreasing loan book

What is a key strength of Italy's economy according to the transcript?

• Wealthier individuals compared to Germans

• High growth rate

• Large number of multinational corporations

• Low investment in small companies

Why is there a need for larger banks in Europe?

• To focus solely on domestic markets

• To increase the number of small banks

• To support European companies' growth and export

• To reduce the number of SMEs

What is one potential outcome for the Italian banking sector?

• Decrease in the number of banks

• Increase in geographic fragmentation

• Consolidation of smaller banks

• Reduction in investor interest

What is necessary to attract investors to the European financial market?

• Focusing on domestic markets only

• Strengthening the financial market and system

• Reducing the number of banks

• Decreasing the size of banks