UniCredit Unpacked: onemarkets surpasses €1bn AUM in Greece – a major milestone in our Alpha Bank partnership
Monday 15 December 2025
Recomend this page
Thank you, we sent your recommendation to the desired recipient.
Sorry, this functionality is not available right now.
Please try with this link. Thank you.
Today we’re launching UniCredit Unpacked – a new series that goes behind the headlines to unpack the decisions, strategy and performance shaping our bank.
In this first edition, we recognise a significant milestone: surpassing €1bn in assets under management for onemarkets Fund distribution in Greece. This achievement reflects the strength of our partnership with Alpha Bank and the power of UniCredit’s product factories to deliver value in high-growth markets.
In November, we surpassed €1bn in assets under management (AUM) for onemarkets Funds in Greece – a significant milestone that reflects the strength of the product and the trust of our clients.
This milestone continues the journey that we started in 2022, when we launched our onemarkets family of funds for the first time has seen us build out our in-house investment products offering from scratch to having over €30bn in AUM across our Group countries in the space of just a few years.
This underscores the strength of our product factories and the value of the Alpha Bank partnership in extending distribution to new markets.
Let’s unpack how our work with Alpha Bank is driving results and what it means for our clients, our people and our future.
What is the nature of our partnership with Alpha Bank?
Two years ago, we entered a strategic partnership with Alpha Bank to deliver enhanced products and services to clients in Greece and beyond, leveraging our international scale and expertise. In October 2025, we increased our stake in the bank to c.29.5%, which is a testament to the success of the collaboration and the value it has created.
What was the rationale?
Our work with Alpha Bank reflects our strategy to grow through partnerships that combine local strength with our global capabilities as a pan-European bank. In particular Greece offers significant growth potential, driven by recovery investments in energy and infrastructure, and Alpha Bank itself is a strong regional player with deep integration in Eastern Europe, making it an ideal partner for cross-border business.
By linking Alpha Bank to UniCredit’s product factories, we have been able to deliver advanced solutions in trade finance, payments, brokerage and asset management (where our onemarkets offering has flourished), all while sharing expertise and best practices. This approach enables us to support clients in Greece and across the Balkans without heavy integration costs.
How has it impacted results so far?
Our investment in Alpha Bank has already delivered well beyond expectations and continues to be a key area of growth in our business as reflected in our Q3 results.
The onemarkets milestone is just one example of the tangible results of our partnership with Alpha Bank. Below are some further highlights:
- We have built a strong partnership with Alpha Bank and UniCredit Client Risk Management, positioning UniCredit among Alpha Bank’s top two counterparties for interest rate derivatives. In addition, the majority of Alpha Bank’s European emission allowance trades are now executed with UniCredit, with projected volumes expected to reach up to €12bn in 2025 — a clear testament to the depth and trust in this relationship.
- Alpha Bank has pinpointed several major Greek corporate groups with operations in UniCredit’s network countries, creating a strong base for joint business opportunities
- Cross-border business: We have jointly executed several significant transactions, such as the European Bank for Reconstruction and Development’s sale of its €161m stake in Bank of Cyprus and coordinated coverage efforts for Greek and CEE clients.
Knowledge sharing: We have held over 30 sessions year-to-date on compliance, operations and client experience, strengthening collaboration between teams.
What's next?
- The next phase of our partnership will focus on deepening cooperation with international clients. We want to leverage UniCredit’s network to support Greek investors looking abroad and international clients seeking opportunities in Greece.
- This cross-border approach will unlock further growth and reinforce our role as a trusted partner in a region that is rapidly evolving.
"Our partnership with Alpha Bank serves as a perfect case study of the way our business is set up - with our deep local networks in the countries connecting clients to our best-in-class product factories. That we have already been so successful – particularly with the distribution of our onemarkets Funds – is testament to the strength of this approach and the quality of our products. Surpassing €1 billion in assets under management in Greece is a major milestone that reinforces this approach and positions us to deliver even more value for clients in the future."
Richard Burton, Head of Client Solutions at UniCredit