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UniCredit reviewing its strategy in emerging Europe

Autor: mses
VIENNA, Feb 9 (Hina) - Italy's UniCredit has decided to re-examine its business strategy in central and eastern Europe in the post-crisis period, with the focus being put on so-called countries-engines for growth and with plans to defend its franchise in "core countries", including Croatia.

The group will give more attention to its "engines for growth" category including Turkey, Russia, Poland and to some extent Romania, Gianni Papa, the group's head of central and eastern Europe, was quoted by Reuters as saying.

The group's strategic review will take into consideration post-crisis conditions in which capital is scarce and dear, funding costs are up and liquidity is no longer abundant, Papa said.

The group's "core countries" in the region are Slovakia, the Czech Republic, Bulgaria and Croatia.

"For the so-called core countries we do have a strong presence and we want to keep our market share, which means to keep on serving the segments as we are serving them today as a universal bank," Papa was quoted as saying.

(Hina) ms

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