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UniCredit focuses on Eastern Europe, 20 bn of new credit

Vivaldi,area remains driver of growth. Ukraine, closing in Marc

22 January, 11:28
(by Fabio Perego) (ANSA) - VIENNA - Central and Eastern Europe is the area on which UniCredit will focus, so the volumes of deposits and loans to individuals and businesses will continue to increase, with 20 billion of new credit in 2018.

The area ''is still a driver of growth for our group. We are here to stay and produce results'', said the Head of UniCredit's Central & Eastern Europe (CEE) Division, Carlo Vivaldi, outlining, on the sidelines of the Euromoney Conference, the objectives of the business plan. Unicredit's strategy includes an increase in the capital allocated in the whole area from 27% in 2014 to 33% in 2018.

About 40% of the group's revenue growth and 60% of its growth in net interest margins, from now on, and up to 2018, will derive from CEE. ''This region - Vivaldi underlined - is an area of fundamental economic importance not only for the UniCredit group, which already generates here a quarter of its revenue, but also for Italian companies: 7,000 are operating in the region, two-thirds supported by our bank''.

The guidelines of UniCredit's activities in Central and Eastern Europe will be the acquisition of new customers, digital innovation and volume growth.

As for sales, after the subsidiary in Ukraine (the closing of which is scheduled for March), there will be no more divestiture in the near future.

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