"Lower oil price is a double-sided coin. Although it clearly weighs on the Russian economy, lower oil price may prove a boost to European households´ and companies´ spending power. Further upside risks to our 2015 forecasts include a more accommodative monetary policy of the ECB and local central banks as well as reinforced efforts towards a greater harmonization of financial services regulations", added Carmelina Carluzzo.
CEE 2020: UniCredit to further strengthen its regional leadership position
Taking into consideration today´s demanding and rapidly changing economic environment, UniCredit has launched a special program, "CEE 2020" which aims at new ways to generate growth and value creation and to develop a future-proof customer business. Supporting the Group´s 2013 - 2018 Strategic Plan the objective is to yield appropriate structures and processes for a sustainably healthy development of the CEE Division. "With around one third, our subsidiary banks in Central and Eastern Europe contribute strongly to UniCredit´s profitability. We intend to further strengthen our leading position in the CEE region, keeping a vigorous focus on customer proximity and leveraging on our broad geographical footprint and comprehensive expertise. Over the past years we have gained market share in most markets thanks to our ongoing investments while competitors were deleveraging, and we intend to continue to do so in the future", noted Gianni Franco Papa, Head of CIB Division and Head of CEE Division.
UniCredit currently has a Common Equity Tier 1 ratio of 10.73 per cent and an unrivalled international network in approximately 50 countries. The Comprehensive Assessment by the ECB proved UniCredit´s solid capital position, which resulted in a 2016 CET1 of 10.8 percent under the stress test adverse scenario.
The Group is the prime partner for supporting customers' cross border business development and operations through its local banks in 14 countries with a seamless service model. It has unique in-depth knowledge of the various CEE markets and serves some 23,000 corporate customers operating in the region by its International Centers network. UniCredit people are dedicated to a strong quality service and committed to retain the Group's leading position in CEE, including high customer satisfaction.
Vienna, 21 January 2015