Unicredit, Orcel: “Without clarity on the Golden Power in BPM we will collect the offer” | EUROtoday

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By the summer season Unicredit must determine whether or not to consolidate the participation in Commerzbank and shortly it may decide on Banco BPM. The CEO of Unicredit Andrea Orcel goes on with its a number of matches crossed within the European banking consolidation, within the advanced dialogue with German and Italian governments and in authorized actions to guard the financial institution.

The eventualities that open will rely lots on how all these elements will combine along with the market assessments and the constraints imposed by the Golden Power on the Banco Bpm operation: “If there is no clarity on the” Golden Power “by the government, we will bring back ‘in the public exchange of exchange on Banco BPM”, stated Andrea Orcel at Goldman Sachs European Conference 2025.

“If they ask me to cease the activities in Russia I answer that we have actually interrupted the loans since 2022 – he explains – but if I have a 20 -year mortgage I cannot accelerate on this”. “They must explain to me exactly what they want on Russia – argues – because we cannot stop payments because there are companies in Germany, Italy and France that are still operating there and we have to be for them”. In quick, given the calls for of the federal government, Orcel defined “at the moment on Banco Bpm the probability of continuing with the OPS is 20%, or not”.

Speaking extra usually than the M&A, Orcel recalled how “an instrument” that has the purpose of “strengthening the group” and “increase the creation of value”. So if these targets “are not reached, you need to have the necessary discipline to take a step back”. On the aggregations entrance, actually, “if the goal does not allow us to overcome at least a small delta, compared to what the basic scenario allows us to reach, then we will not do it”.