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UniCredit: Expansion to the Czech Republic, Poland and Turkey
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Published: November 19, 2010; 09:52 ♦ (Vindobona)
UniCredit’s subsidiary Bank Austria functions as an Eastern Europe Holding. 40% of the net income of the group comes from the region by now.
UniCredit: Expansion to the Czech Republic, Poland and Turkey / Picture: © UniCredit Banca
UniCredit CEO Ghizzoni explains the importance of Eastern Europe for the bank: "After the bankruptcy of Lehman Brothers super experts of the banking sector predicted that there would be no future for us, as well as for most other investors, in Eastern Europe. After two years we can say that UniCredit is generating 24% of its total sales and 40% of its profits in Eastern…
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