UniCredit S.p.A. (formerly UniCredito Italiano S.p.A.) is an Italian multinational banking group headquartered in

Milan Milan ( , , ; ) is a city in northern Italy, regional capital of Lombardy, the largest city in Italy by urban area and the List of cities in Italy, second-most-populous city proper in Italy after Rome. The city proper has a population of nea ...

. It is a

systemically important bank A systemically important financial institution (SIFI) is a bank, insurance company, or other financial institution whose failure might trigger a financial crisis. They are colloquially referred to as "too big to fail". As the 2008 financial cri ...

(according to the list provided by the

Financial Stability Board The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established in the 2009 G20 Pittsburgh Summit as a successor to the Financial Stability Forum (FSF) ...

in 2022) and the world's 34th largest by assets. It was formed through the merger of

Credito Italiano ''Credito Italiano'', often referred to by the shorthand Credit, was a significant Italian bank based in Milan. It was established in 1895, succeeding the ''Banca di Genova'' established in 1870 in Genoa. In 1998 it merged with Unicredito to form ...

and Unicredito in 1998 but has a corporate identity stretching back to its first foundation in 1870 as

Banca di Genova ''Credito Italiano'', often referred to by the shorthand Credit, was a significant Italian bank based in Milan. It was established in 1895, succeeding the ''Banca di Genova'' established in 1870 in Genoa. In 1998 it merged with Unicredito to form ...

. UniCredit is listed on the

Borsa Italiana Borsa Italiana () or Borsa di Milano (), based in Milan at Palazzo Mezzanotte, Mezzanotte Palace, is the Italy, Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and i ...

and

Frankfurt Stock Exchange The Frankfurt Stock Exchange (, former German name: , ''FWB'') is the world's 3rd oldest and 12th largest stock exchange by market capitalization. It has operations from 8:00 am to 10:00 pm ( German time). Organisation Located in Frankfurt, ...

and is a constituent stock of the Euro Stoxx 50 index of leading shares. With

corporate A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of s ...

investment banking Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by und ...

commercial banking A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

and

wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-hi ...

operations, Unicredit is a

pan-European Pan-European can refer to: * Pan-European identity * Pan-European corridors ** Pan-European Corridor X ** Pan-European Corridor Xa * Pan European Game Information * Pan-European Institute * Pan-European nationalism * Pan-European Oil Pipeline * ...

bank with a strong presence in Western, Central and Eastern Europe. Through its European banking network, it provides access to market-leading products and services in 13 core markets: Italy, Germany as

HypoVereinsbank HypoVereinsbank (HVB), legally registered since late 2008 as UniCredit Bank GmbH, is a significant bank in Germany headquartered in Munich. It has been part of the Milan-based UniCredit group since 2005, and fully owned by it since 2008. As a ...

, Austria as

Bank Austria UniCredit Bank Austria AG, branded and widely referred to as Bank Austria, is an Austrian bank, 99,9965% owned by Milan-based pan-European banking group UniCredit. Bank Austria was formed in 1991 by merger of Vienna's Länderbank and Zentralspa ...

, Russia and nine other Central and Southeast European countries. UniCredit has been designated as a Significant Institution since the entry into force of

European Banking Supervision European Banking Supervision, also known as the Single Supervisory Mechanism (SSM), is the policy framework for the prudential supervision of banks in the euro area. It is centered on the European Central Bank (ECB), whose supervisory arm is re ...

in late 2014, and as a consequence is directly supervised by the

European Central Bank The European Central Bank (ECB) is the central component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International ...

History

Founding through mergers and growth (1998–2006)

UniCredit was the outcome of the 1998 merger of several Italian banking groups, which the majority one were Unicredito (banks from

Turin Turin ( , ; ; , then ) is a city and an important business and cultural centre in northern Italy. It is the capital city of Piedmont and of the Metropolitan City of Turin, and was the first Italian capital from 1861 to 1865. The city is main ...

Verona Verona ( ; ; or ) is a city on the Adige, River Adige in Veneto, Italy, with 255,131 inhabitants. It is one of the seven provincial capitals of the region, and is the largest city Comune, municipality in the region and in Northeast Italy, nor ...

and

Treviso Treviso ( ; ; ) is a city and (municipality) in the Veneto region of northern Italy. It is the capital of the province of Treviso and the municipality has 87.322 inhabitants (as of December 2024). Some 3,000 live within the Venetian wall ...

) and

(consists of Rolo Banca, Banca Popolare di Rieti), hence the name UniCredito Italiano. Credito Italiano issued about 38.46% new shares to the owners of Unicredito, and renamed itself to Unicredito Italiano. Other banks such as

Banca dell'Umbria Banca dell'Umbria 1462 S.p.A. or previously known as Cassa di Risparmio di Perugia was an Italian savings bank. The bank became a subsidiary of UniCredit in 1999 and ceased to exist in 2005. However, its former owner Fondazione Cassa di Risparmi ...

Cassa di Risparmio di Carpi Cassa di Risparmio di Carpi was an Italian retail bank based in Carpi, in the Province of Modena, Emilia-Romagna. The bank section was absorbed into UniCredit in 2005, while its charity section, still operates as Fondazione Cassa di Risparmio di C ...

, Cassa di Risparmio di Trento e Rovereto (Caritro),

Cassa di Risparmio di Trieste Cassa di Risparmio di Trieste was an Italian savings bank headquartered in Trieste that operated between 1842 and 2002. In 1992, as part of the Italian government restructuring of public credit institutions, known as the , the bank was split int ...

also joined the group in 1998–2000. A new subsidiary was also created in December 1999 which was named after the original

. In 1999, UniCredito Italiano, as it was then known, began its expansion in Eastern Europe with the acquisition of Polish company

Bank Pekao Bank Polska Kasa Opieki Spółka Akcyjna, commonly using the shorter name Bank Pekao S.A., is a universal bank and currently the second largest bank in Poland with its headquarters in Warsaw. The Italian bank UniCredit used to own 59% of the com ...

. On 30 June 2002, UniCredit started its S3 project which merged 7 of their bank network: Rolo Banca, Banca CRT, Cariverona Banca, Cassamarca, Cassa di Risparmio di Trento e Rovereto and

into Credito Italiano, and Credito Italiano was renamed into UniCredit Banca. UniCredit Private Banking and UniCredit Banca d'Impresa was spin off from it in 2003. In 2005, UniCredit merged with the German group

(HVB), which is itself formed in 1998 by the combination of two Bavarian banks: Bayerische Vereinsbank and Bayerische Hypotheken-und Wechsel-Bank. Integration with the HVB Group was reinforced by the merger with

Bank Austria Creditanstalt UniCredit Bank Austria AG, branded and widely referred to as Bank Austria, is an Austrian bank, 99,9965% owned by Milan-based pan-European banking group UniCredit. Bank Austria was formed in 1991 by merger of Vienna's Länderbank and Zentralspar ...

in the year 2000 and enabled further growth for the UniCredit Group. Additionally, Bank Austria Creditanstalt was a major shareholder in

Bank Medici Bank Medici was a bank based in Vienna, Austria. It was founded in 1994 by banker Sonja Kohn and incorporated as a bank in 2003. Bank Medici's president and majority stakeholder was Sonja Kohn. Its main institutional shareholder was Bank Austri ...

AG. Bank Medici was Thema Fund's

investment manager Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified inve ...

. In return for finding investors, Bank Medici collected fees of 4.6 million

euro The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...

s from

Thema International Fund Thema International Fund PLC, based in Dublin, Ireland, is a Dublin-listed, Undertakings for Collective Investment in Transferable Securities (UCITS) III-certified, open-end fund incorporated in Ireland, which was launched in December 1996. It ...

in 2007. Following the news that Bank Medici had invested US$2 billion with

Bernard Madoff Bernard Lawrence Madoff ( ; April 29, 1938April 14, 2021) was an American financial criminal and financier who was the admitted mastermind of the largest known Ponzi scheme in history, worth an estimated $65 billion. He was at one time ...

, officials in Vienna appointed a supervisor to run the private bank, raising questions about control of the sprawling group. On 30 June 2005

and

were absorbed into the parent company. In 2006 the securities services business of UniCredit (2S Banca, now Société Générale Security Services S.p.A.) was sold to

Société Générale Société Générale S.A. (), colloquially known in English-speaking countries as SocGen (), is a French multinational universal bank and financial services company founded in 1864. It is registered in downtown Paris and headquartered nearby i ...

for €579.3 million. In 2006, minority interests in the savings banks of

Bra A bra, short for brassiere or brassière (, ; ), is a type of form-fitting underwear that is primarily used to support and cover a woman's breasts. A typical bra consists of a chest band that wraps around the torso, supporting two breast cups ...

(31.021%),

Fossano Fossano () is a town and ''comune'' of Piedmont, Northern Italy. It is the fourth largest town of the province of Cuneo, after Cuneo, Alba and Bra. It lies on the main railway line from Turin to Cuneo and to Savona, and has a branch line to Mon ...

(23.077%),

Saluzzo Saluzzo (; ) is a town and former principality in the province of Cuneo, in the Piedmont region, Italy. The city of Saluzzo is built on a hill overlooking a vast, well-cultivated plain. Iron, lead, silver, marble, slate etc. are found in the su ...

(31.019%) and

Savigliano Savigliano () is a of Piedmont, Northern Italy, in the Province of Cuneo, about south of Turin by rail. It is home to ironworks, foundries, locomotive works (once owned by Fiat Ferroviaria, now by Alstom) and silk manufactures, as well as sugar ...

(31.006%) were sold for about €149 million to

Banca Popolare dell'Emilia Romagna BPER Banca S.p.A., formerly known as Banca Popolare dell'Emilia Romagna S.C., is an Italian banking group offering traditional banking services to individuals, corporate and public entities. The company is based in Modena and is a constituent of ...

Acquisition of Capitalia, 2008 financial crisis, and its consequences (2007–2017)

In 2007, in combination with the

Capitalia Capitalia was an Italian banking group headquartered in Rome, in existence between 2002 and 2008. The bank was a listed company in Borsa Italiana (Milan Stock Exchange). The bank was acquired by UniCredit by issuing new shares of UniCredit for sh ...

Group, the fourth-largest Italian banking group (by total assets in 2006;

Sanpaolo IMI Sanpaolo IMI S.p.A. was an Italian banking and insurance conglomerate, based in Turin. It employed about 44,000 people and had about 7 million customers. On 24 August 2006, a merger with Banca Intesa was announced, which on 1 December 2006 was ap ...

and

Banca Intesa Banca Intesa S.p.A. was an Italian banking group, formed in 1998 by merger of Cassa di Risparmio delle Provincie Lombarde (Cariplo) and Banco Ambrosiano Veneto. The next year, the banking group merged with Banca Commerciale Italiana to become ...

were counted as one entity as the banks also merged in 2007). The registered office of the bank was also relocated from Genoa (inherited from

) to 17 via Minghetti, Rome. In the same year, two more acquisitions were carried out: ATF Bank, which ranks fifth out of domestic banks in

Kazakhstan Kazakhstan, officially the Republic of Kazakhstan, is a landlocked country primarily in Central Asia, with a European Kazakhstan, small portion in Eastern Europe. It borders Russia to the Kazakhstan–Russia border, north and west, China to th ...

with 154 branches, and Ukrsotsbank, a universal bank in Ukraine. With these two banks, the Group extended its operations in this area to 19 countries (including Central Asia). However, in November 2012, Kazakh government sources declared UniCredit is in talks with Kazakh investors over the sale of a controlling stake in ATF Bank. In 2010, UniCredit S.p.A. absorbed its Italian banking subsidiaries:

UniCredit Banca UniCredit Banca S.p.A. was the retail banking division of UniCredit Group. On 1 July 2002, Rolo Banca, Banca CRT, Cariverona Banca, Cassamarca, Cassa di Risparmio di Trento e Rovereto and Cassa di Risparmio di Trieste were merged into Credit ...

Banca di Roma Banca di Roma was an Italian bank based in Rome, formed in 1992 by merger of Banco di Santo Spirito and Banco di Roma. From 2008 it was a subsidiary of UniCredit under the name UniCredit Banca di Roma S.p.A.. In 2010 the subsidiary was absorbed ...

and

Banco di Sicilia Banco di Sicilia was an Italian bank based in Palermo, Sicily. It was a subsidiary of UniCredit but absorbed into the parent company in 2010. History It was founded as ''Banco Regio dei Reali Domini al di là del Faro'' in 1849 and was renamed in ...

. In 2013 UniCredit Finance reported that they would no longer provide banking services in Latvia. On March 14, 2014, UniCredit announced that it expected to cut around 8,500 jobs in the future, together with the announcement of a $15 billion loss in the 4th quarter of 2013 due to extensive cash-reserving for bad loans and writing down goodwill from acquisitions. UniCredit is one of the 6 European banks which are currently most exposed to potential problems in the emerging markets. In April 2015 UniCredit and Banco Santander reached a preliminary agreement to merge their asset-management businesses in a transaction valuing the combined entity at about €5.4 billion. However, the deal was terminated on 27 July 2016. Nevertheless, Pioneer was sold in December 2016 to

Amundi Amundi is a French asset management company. With €2.247 trillion of assets under management (AUM) in 2025, it is the largest asset manager in Europe and one of the 10 biggest investment managers in the world. Founded on 1 January 2010, t ...

for €3.545 billion. UniCredit also received an extraordinary dividend of €315 million from Pioneer. From June 2015 to January 2017 UniCredit sold its NPLs that was doubtful to collect (''sofferenze'') to various investors, namely

PRA Group PRA Group, Inc. is a publicly-traded debt buyer and Debt collection, debt collection company based in Norfolk, Virginia. The company buys delinquent consumer debt from credit card issuers and other financial institutions at a discount and pursues ...

Europe (€625 million gross), a fund managed by

Cerberus Capital Management Cerberus Capital Management, L.P. is an American global alternative investment firm with assets across credit, private equity, and real estate strategies.Leaders Magazine"Providing Economic Opportunity: An Interview with The Honorable Dan Qua ...

(€100 million gross), a US fund (€150 million gross),

AnaCap Financial Partners AnaCap Financial Partners (AnaCap) is a London-based British private equity fund manager that invests in software, technology and services within the European financial sector. Since January 2023, AnaCap has been led by Managing Partner Nassim Ch ...

(€420 million gross),

Fortress Investment Group Fortress Investment Group, LLC is an American investment management firm based in New York City. It was founded as a private equity firm in 1998 by Wes Edens, Rob Kauffman, Pete Briger, Michael Novogratz, and Randal Nardone. Overview When ...

and

PIMCO Pacific Investment Management Company LLC (PIMCO) is an American investment management firm. While it has a specific focus on active fixed income management worldwide, it manages investments in many asset classes, including fixed income, share ca ...

(€17.7 billion gross; UniCredit retained a minority stake in the

securitization Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans, or credit card debt obligations (or other non-debt assets which generate receivables) and sellin ...

SPV),

B2 Kapital B, or b, is the second letter of the Latin alphabet, used in the modern English alphabet, the alphabets of other western European languages and others worldwide. Its name in English is '' bee'' (pronounced ), plural ''bees''. It represe ...

(€110 million in gross from Slovenian subsidiary) and B2Holding (€93 million from

UniCredit Bulbank UniCredit Bulbank is the largest bank of Bulgaria. Before 1994, the bank was known as the Bulgarian Foreign Trade Bank or BFTB. UniCredit Bulbank was formed in 2007 as a merger between Bulbank, Biochim, and Hebros Bank, all of them owned by the U ...

). In October 2015, UniCredit also sold UniCredit Credit Management Bank (now

doBank doValue S.p.A. formerly doBank S.p.A. is an Italian financial service company based in Verona, Veneto region. The company, a former bank, was known as UniCredit Credit Management Bank until 2015. In 2015, the company was acquired by private equity ...

), the subsidiary that specialized in managing NPLs to

and Prelios S.p.A. A portfolio of €2.4 billion (in gross book value) NPLs was included in the deal. On a year to year basis, the net value of ''sofferenze'' had increased from €19.701 billion on 31 December 2014 to €19.924 billion on 31 December 2015 (or from €52.143 billion to €51.089 billion in gross). In December 2016 UniCredit sold Polish bank

. UniCredit had already sold part of the stake in

FinecoBank FinecoBank S.p.A., known as FinecoBank or just Fineco is an Italian bank that specializes in online brokerage. Launched in 1999 with its Fineco Online service for retail traders, Fineco became a listed company in 2014 and has been independent fr ...

in mid 2016, as well as sold Ukrainian bank Ukrsotsbank to

Alfa Group Alfa Group Consortium () is a Russian international privately owned investment groups, with interests in oil and gas, commercial and investment banking, asset management, insurance, retail trade, telecommunications, water utilities and special ...

in January 2016. In December 2016, the card business in Italy, Germany and Austria was sold to SIA for €500 million. On 13 December 2016, despite the annual

(ECB) Supervisory Review and Evaluation Process (SREP) lowed the CET1 ratio (transitional basis) requirement of UniCredit from 9.75% to 8.75%, the bank announced a massive €13 billion recapitalization of the bank, as well as €8.1 billion loan loss provisions and net restructuring charges of €1.7 billion in the fourth quarter of 2016. In the 2016 European Union bank stress test announced on 29 July, UniCredit's CET1 ratio (fully loaded basis) was predicted at 7.10% in the adverse scenario on 31 December 2018, which was the second last among the big 5 Italian banks that participated in the stress test (the last was

Banca Monte dei Paschi di Siena Banca Monte dei Paschi di Siena S.p.A. (), known as BMPS or just MPS, is an Italian bank. Tracing its history to a mount of piety founded in 1472 () and established in its present form in 1624 (), it is the world's List of oldest banks, oldest ...

). Based on the 2016 SREP, UniCredit Group has required a fully load basis CET1 ratio of 10.5% from 1 January 2019 due to an increase in Capital Conservation Buffer and global systemically important bank buffer as required by CRR and CRD IV. Moreover, the pillar 2 guidance: the additional capital that ECB suggested the bank to keep, was remained confidential. In January 2017 10 old ordinary shares were combined into 1 new ordinary share, as well as bearer savings share and registered savings share. On April 6, 2017, UniCredit issued its first bond in the United States in a decade. In mid-2017, a capital increase was completed as well as securitization and partial disposal of the NPLs of the bank. In December 2017, the savings share () of the bank was converted to the ordinary share, as well as the removal of the 5% cap on voting rights for each entity.

Expansion with a new round of acquisitions (2023-25)

In October 2023, UniCredit announced that it would become the largest investor in

Alpha Bank Alpha Bank is a Greek bank, headquartered in Athens, Greece. It has been founded in 1918 by John Kostopoulos and listed on the Athens Stock Exchange since November 1925. As of 2025, it operates 272 branches in Greece and 12 additional locat ...

, buying a 9% stake in the Greek bank and taking over its Romanian subsidiary. On 11 September 2024, UniCredit announced that it had purchased a 9% stake in

Commerzbank The Commerzbank Aktiengesellschaft (shortly known as Commerzbank AG or Commerzbank ) is a European Financial institution, banking institution headquartered in Frankfurt am Main, Hesse, Germany. It offers services to private and entrepreneurial c ...

. Half of the stake was bought on the open market; the other half was bought from the German government, which sold a part of the stake it owns since the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

and bailout of

. UniCredit also announced that it has asked for the ECB regulatory approval to raise its stake in Commerzbank beyond 9,9% in a move widely understood as the first step of a potential takeover of Germany’s second-largest private-sector bank by UniCredit. On 23 September 2024, UniCredit stated that it increased its stake in Commzerbank to 21% (even though the new acquisition of a 11,5% stake in Commerzbank need an ECB approval to be settled) and has submitted a request to the ECB to increase its stake to 12,9%. On December 18, 2024, Unicredit increased its stake in Commerzbank to 28%. The German government called the move uncoordinated and hostile. On 25 November 2024, UniCredit launched a €10.1bn takeover bid for

Banco BPM Banco BPM S.p.A. is an Italian bank that commenced operations on 1 January 2017, by the merger (approved by the board of directors on 24 May 2016) of Banco Popolare and Banca Popolare di Milano (BPM). The bank is the third largest retail and cor ...

. On 2 February 2025, UniCredit owned 4.1% of Generali. On 9 March 2025, UniCredit closed a deal to acquire Belgium-based digital bank Aion Bank, as well as Vodeno, Aion's cloud-native core banking system, for €376 million. On 14 March 2025, the ECB gave its regulatory approval to UniCredit for the increase of its stake in Commerzbank to up to 29.9 % and, a month later, the

Federal Cartel Office The Federal Cartel Office (, ; BKartA) is Germany's national competition regulatory agency. First established in 1958, BKartA comes under the authority of the Federal Ministry for Economic Affairs and Climate Action. The agency is headquartered ...

(Germany's antitrust authority) also approved UniCredit's plan to raise its stake in Commerzbank to 29.9%. On April 3, 2025, UniCredit is expected to receive conditional approval from the government for its €14 billion all-share takeover bid for smaller rival Banco BPM. The government is reviewing the deal under its "golden powers," which enables it to set conditions on takeovers in strategic sectors. While the conditions are still unspecified, they are not expected to pose significant obstacles. The review should conclude by the end of April, but UniCredit has until June 30 to consider their options and decide whether to proceed with the offer. On April 11, 2025, UniCredit joined a

European Banking Federation The European Banking Federation (EBF) is a trade association representing national banking associations in countries of the European Union and the European Free Trade Association. It represents over 3,500 banks and about 2.6 million employees. ...

task force to support defense and security investments. Led by CEO

Andrea Orcel Andrea Orcel (; born May 14, 1963) is an Italian investment banker who is CEO of UniCredit. He was the president of UBS, UBS Investment Bank from November 2014 to September 2018. He was poised to take on the role of Chief Executive of Banco Sant ...

, the move strengthens the bank's role in financing Europe’s strategic autonomy amid rising geopolitical tensions. In May 2025, UniCredit announced a 10-year partnership with

Google Cloud Google Cloud Platform (GCP) is a suite of cloud computing services offered by Google that provides a series of modular cloud services including computing, data storage, data analytics, and machine learning, alongside a set of management tools ...

aimed at modernizing the bank's IT infrastructure and supporting its digital transformation strategy. At the end of May 2025, UniCredit increased its stake in

from 9.7% to 20%.

buddybank

On 29 January 2018 buddybank was launched on the Italian market. buddybank is the first mobile-only bank designed for iOS devices, but is also developed on

Android Android most commonly refers to: *Android (robot), a humanoid robot or synthetic organism designed to imitate a human * Android (operating system), a mobile operating system primarily developed by Google * Android TV, a operating system developed ...

: the official app of the service is available on

Android smartphones This is a list of devices that run on Android (operating system), Android, an open source operating system for smartphones and other devices. A B C D E F G H I J K L M N O P Q R S T U V W X ...

iPhone The iPhone is a line of smartphones developed and marketed by Apple that run iOS, the company's own mobile operating system. The first-generation iPhone was announced by then–Apple CEO and co-founder Steve Jobs on January 9, 2007, at ...

iPad The iPad is a brand of tablet computers developed and marketed by Apple Inc., Apple that run the company's mobile operating systems iOS and later iPadOS. The IPad (1st generation), first-generation iPad was introduced on January 27, 2010. ...

and

iPod Touch The iPod Touch (stylized as iPod touch) is a discontinued line of iOS-based mobile devices designed and formerly marketed by Apple Inc. with a touchscreen-controlled user interface. As with other iPod models, the iPod Touch can be used as a po ...

devices. buddybank is based on a conversational operating model: customers can communicate with the bank through a chat system and receive assistance 24 hours a day, 7 days a week.

Geography

The company has its

registered office A registered office is the official address of an incorporated company, association or any other legal entity. Generally it will form part of the public record and is required in most countries where the registered organization or legal entity ...

and

general management A general manager (GM) is an executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement, known as profit & loss (P&L) responsibility. A general manager usually oversees most or all of t ...

. The registered office was located in Rome from the date of the merger with

in 2007, and relocated back to Milan in 2017. The registered office was located in Genoa from 1999 to 2007. UniCredit's core markets are

Italy Italy, officially the Italian Republic, is a country in Southern Europe, Southern and Western Europe, Western Europe. It consists of Italian Peninsula, a peninsula that extends into the Mediterranean Sea, with the Alps on its northern land b ...

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

Austria Austria, formally the Republic of Austria, is a landlocked country in Central Europe, lying in the Eastern Alps. It is a federation of nine Federal states of Austria, states, of which the capital Vienna is the List of largest cities in Aust ...

Bosnia and Herzegovina Bosnia and Herzegovina, sometimes known as Bosnia-Herzegovina and informally as Bosnia, is a country in Southeast Europe. Situated on the Balkans, Balkan Peninsula, it borders Serbia to the east, Montenegro to the southeast, and Croatia to th ...

Bulgaria Bulgaria, officially the Republic of Bulgaria, is a country in Southeast Europe. It is situated on the eastern portion of the Balkans directly south of the Danube river and west of the Black Sea. Bulgaria is bordered by Greece and Turkey t ...

Croatia Croatia, officially the Republic of Croatia, is a country in Central Europe, Central and Southeast Europe, on the coast of the Adriatic Sea. It borders Slovenia to the northwest, Hungary to the northeast, Serbia to the east, Bosnia and Herze ...

Czech Republic The Czech Republic, also known as Czechia, and historically known as Bohemia, is a landlocked country in Central Europe. The country is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the south ...

Hungary Hungary is a landlocked country in Central Europe. Spanning much of the Pannonian Basin, Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Croatia and ...

Serbia , image_flag = Flag of Serbia.svg , national_motto = , image_coat = Coat of arms of Serbia.svg , national_anthem = () , image_map = , map_caption = Location of Serbia (gree ...

Slovakia Slovakia, officially the Slovak Republic, is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the west, and the Czech Republic to the northwest. Slovakia's m ...

Slovenia Slovenia, officially the Republic of Slovenia, is a country in Central Europe. It borders Italy to the west, Austria to the north, Hungary to the northeast, Croatia to the south and southeast, and a short (46.6 km) coastline within the Adriati ...

Romania Romania is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern and Southeast Europe. It borders Ukraine to the north and east, Hungary to the west, Serbia to the southwest, Bulgaria to the south, Moldova to ...

, and

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

. UniCredit Corporate &

Investment banking Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by und ...

division serves 1,500 multinational corporates and key financial institutions and supports the group’s corporate banking units in delivering services to 600,000 corporate and public sector clients. Its International Network spreads over 16 countries worldwide and provides access to a network of 4,000 correspondent banking relationships, covering 175 countries. CIB international centers are present in

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

Shanghai Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

Munich Munich is the capital and most populous city of Bavaria, Germany. As of 30 November 2024, its population was 1,604,384, making it the third-largest city in Germany after Berlin and Hamburg. Munich is the largest city in Germany that is no ...

Vienna Vienna ( ; ; ) is the capital city, capital, List of largest cities in Austria, most populous city, and one of Federal states of Austria, nine federal states of Austria. It is Austria's primate city, with just over two million inhabitants. ...

Budapest Budapest is the Capital city, capital and List of cities and towns of Hungary, most populous city of Hungary. It is the List of cities in the European Union by population within city limits, tenth-largest city in the European Union by popul ...

Prague Prague ( ; ) is the capital and List of cities and towns in the Czech Republic, largest city of the Czech Republic and the historical capital of Bohemia. Prague, located on the Vltava River, has a population of about 1.4 million, while its P ...

, Madrid, Beijing, Mumbai, Athens, Seoul, Zurich, Hanoi, Abu Dhabi. With the goal of fostering trade and investment between Eastern and Western Europe, UniCredit has joined up with and the Federal State of

Berlin Berlin ( ; ) is the Capital of Germany, capital and largest city of Germany, by both area and List of cities in Germany by population, population. With 3.7 million inhabitants, it has the List of cities in the European Union by population withi ...

to host the east forum Berlin. File:Torre Unicredit.JPG, UniCredit Tower in

File:Moorhouse, City of London.jpg, UniCredit Head Office in

Moor House Moor House is a large office building on London Wall in Moorgate, located in the City of London. It is located on the northern edge of the financial district and is one of the largest buildings in the area, standing tall and with of floor spa ...

in the

City of London The City of London, also known as ''the City'', is a Ceremonial counties of England, ceremonial county and Districts of England, local government district with City status in the United Kingdom, city status in England. It is the Old town, his ...

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

File:Vilnius2471.JPG, UniCredit in

Vilnius Vilnius ( , ) is the capital of and List of cities in Lithuania#Cities, largest city in Lithuania and the List of cities in the Baltic states by population, most-populous city in the Baltic states. The city's estimated January 2025 population w ...

Lithuania Lithuania, officially the Republic of Lithuania, is a country in the Baltic region of Europe. It is one of three Baltic states and lies on the eastern shore of the Baltic Sea, bordered by Latvia to the north, Belarus to the east and south, P ...

File:Centrála UniCredit Bank v Praze.jpg, UniCredit Bank in

File:Sofia Center, 1000 Sofia, Bulgaria - panoramio (62).jpg, UniCredit Bulbank in

Sofia Sofia is the Capital city, capital and List of cities and towns in Bulgaria, largest city of Bulgaria. It is situated in the Sofia Valley at the foot of the Vitosha mountain, in the western part of the country. The city is built west of the Is ...

File:Verwaltungsgebäude der Bank Austria.jpg, Bank Austria in

File:Hypo-Haus 03-10-28-012.jpg, HypoVereinsbank in

Business in Russia

After a Russian invasion of Ukraine on February 24, 2022, UniCredit's Chief Executive Officer, Andrea Orcel, announced in March 2022 that the bank was actively considering leaving the Russian market. Prior to the invasion, UniCredit had even considered buying the Russian bank Otkrytie. In March 2022, the bank estimated possible losses from exiting the Russian market at €7.4 billion. In May 2022, it became known that UniCredit had reserved more than €1 billion for possible losses in the Russian Federation, while still considering leaving the market. Later in May 2022, it was reported that UniCredit and Citigroup were considering exchanging assets in Russia. UniCredit's position has been that it is unwilling to sell its business at undervalued prices and does not want to face serious financial losses. According to the Financial Times, billionaire Volodymyr Potanin's "Interros" was one of the contenders to purchase UniCredit's business, but UniCredit denied the proposal due to unfavorable conditions.

Raiffeisen Bank International Raiffeisen Bank International (RBI) is a key entity of the decentralized Raiffeisen Banking Group in Austria, acting both as the latter's domestic central financial entity and as the holding company for all the group's operations outside of Aus ...

and UniCredit are the only foreign banks on the central bank's list of 13 "systemically important credit institutions," and are therefore extremely important in the Russian financial system. In 2022, UniCredit's total revenue exceeded €20 billion, with more than €1 billion coming from its Russian operations. In May 2024, a Russian court authorized the seizure of €462.7 million of Unicredit's assets. In April 2022, the

issued an order to reduce operations in Russia. On June 29, UniCredit filed a lawsuit with the

European Court of Justice The European Court of Justice (ECJ), officially the Court of Justice (), is the supreme court of the European Union in matters of European Union law. As a part of the Court of Justice of the European Union, it is tasked with interpreting ...

, demanding that the demands be declared illegal, since its activities in Russia are carried out outside the jurisdiction of the ECB.

Ownership

UniCredit is a public company with a free float equal to 100% of the shares outstanding and there are no controlling shareholders or shareholders' agreements. The major shareholders (above 3%) collectively represent only 13% of the share capital (3 March 2021): * BlackRock Group 5.075% * Capital Research and Management Company 5.022% - of which on behalf of EuroPacific Growth Fund 3.503% * Norges Bank 3.011% * ATIC Second International Investment Company LLC 2.016% * Delfin S.a.r.l. 1.925% * Golden Suites DCH 1.1% * S.P.A Holdings 14.143% * Allianz SE Group 1.255% In addition,

Fondazione Cariverona Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona, also known as Fondazione Cariverona is an Italian banking foundation based in Verona, Veneto region. The foundation was created in 1991. History Due to the , a law that required ba ...

Fondazione Cassa di Risparmio di Torino Fondazione Cassa di Risparmio di Torino (Fondazione CRT) is a charity organization formed in 1991 by the spin off of the bank activities Cassa di Risparmio di Torino into Banca CRT S.p.A. (a limited company), with the original statutory corporatio ...

, the owners of the predecessors of UniCredit, as well as foreign sovereign wealth fund (and other government entity):

Central Bank of Libya The Central Bank of Libya (CBL) is the monetary authority in Libya. It has the status of an autonomous corporate body. The law establishing the CBL stipulates that the objectives of the central bank shall be to maintain monetary stability in Liby ...

(and its subsidiary

Libyan Foreign Bank Libyan Foreign Bank (LFB) was established in 1972 in Tripoli, Libya as Libyan Arab Foreign Bank; it was renamed Libyan Foreign Bank in 2005. It was Libya's first offshore banking institution licensed to operate internationally. The Central Bank of ...

) were the shareholders of UniCredit that owned more than 2% stake as at 31 December 2015. On 11 March 2011, Unicredit said in a press release that they froze the voting rights of the Libyan shareholders (Central Bank of Libya and Lia). In addition to aforementioned banking foundations,

Fondazione Roma Fondazione Roma formerly Fondazione Cassa di Risparmio di Roma is a charity organization based in Rome, Italy. The organization succeeds the historical financial institution Cassa di Risparmio di Roma (est. 1836) as it was reorganized as a banking ...

and

Fondazione Manodori Fondazione Cassa di Risparmio di Reggio Emilia – Pietro Manodori known as Fondazione Manodori, is a non-profit organization based in Palazzo del Monte, Reggio Emilia, Emilia-Romagna. The organization originated from the saving bank of the city ( ...

, the former owners of Capitalia, also owned 0.479% stake and 0.278% stake respectively as at 31 December 2015. Carimonte Holding, the joint venture of Fondazione Carimodena and Fondazione del Monte di Bologna e Ravenna, owned 2.115% stake of UniCredit in 2014. Other known shareholders were

Fondazione Cassamarca Cassa di Risparmio della Marca Trivigiana, also known as Cassamarca in short, was an Italian savings bank headquartered in Treviso, Veneto. The history of the bank goes back to 1496 when the charitable institution Monte di Pietà di Treviso was fo ...

(0.23% at 31 December 2016) and

Fondazione CRTrieste Cassa di Risparmio di Trieste was an Italian savings bank headquartered in Trieste that operated between 1842 and 2002. In 1992, as part of the Italian government restructuring of public credit institutions, known as the , the bank was split int ...

(0.282% at 31 December 2016), which were the former owner of UniCredit's predecessors. In February 2025, Delfin started having discussions about the sale of its 2.7% stake in UniCredit via an accelerated book building. This is potentially worth nearly 2 billion Euro. UniCredit CEO Andrea Orcel acknowledged Delfin as a strong long-term investor but is aiming to prove that the sale of the stake would be a wrong decision.

Subsidiaries

(Austria) *

(Germany) *

UniCredit Bank Czech Republic and Slovakia UniCredit Bank Czech Republic and Slovakia a.s., is a Czech and Slovak bank based in Prague, the capital of the Czech Republic. The bank was a subsidiary of Italy-based UniCredit Group for 99.96% stake. History UniCredit Bank Czech Republic and Sl ...

(Czech Republic, Slovakia) * UniCredit Bank Hungary (Hungary) *

UniCredit Bank Romania UniCredit Bank is a Romanian bank and member of UniCredit Group. It has a network of 8,500 branches in 17 European countries, and a presence in another 50 international markets. Being one of the top 5 banks on the Romanian market, UniCredit Bank ...

(Romania) * UniCredit Bank Russia (Russia) *

UniCredit Bank Serbia UniCredit Bank Serbia () is a bank founded in 2001, headquartered in Belgrade, Serbia. It is part of the Italian banking group UniCredit, which owns 100% stake in the bank. As of 31 December 2024, the bank has a network of 71 branch offices and tw ...

(Serbia) *

UniCredit Bank Slovenia UniCredit Bank Slovenia () is a Slovenian bank, which was a subsidiary of Italy-based UniCredit Group. According to the bank, UniCredit Bank Slovenia had a market share of 7.6% in Slovenia, in terms of total loans as of 30 September 2015. Bank Au ...

(Slovenia) *

(Bulgaria) * UniCredit Corporate & Investment Banking (Italy) * UniCredit International Bank Luxembourg (Luxembourg) * UniCredit Leasing (Italy) *

Zagrebačka banka Zagrebačka banka d.d. is the largest bank in Croatia, owned by Milan-based UniCredit. Overview Zagrebačka banka was formed in 1977, intended to provide loans for local companies, taking over some former assets and operations including from th ...

(Croatia) * UniCredit Bank

Mostar Mostar () is a city and the administrative centre of Herzegovina-Neretva Canton of the Federation of Bosnia and Herzegovina, an entity of Bosnia and Herzegovina, and the historical capital of Herzegovina. Mostar is situated on the Neretva Riv ...

, UniCredit Bank

Banja Luka Banja Luka ( sr-Cyrl, Бања Лука, ) or Banjaluka ( sr-Cyrl, Бањалука, ) is the List of cities in Bosnia and Herzegovina, second largest city in Bosnia and Herzegovina and the largest city in Republika Srpska. Banja Luka is the tr ...

(Bosnia and Herzegovina) * Aion Bank & Vodeno (Poland)

Former subsidiaries

(Poland) (1999-2016) * UniCredit Bank (Baltics) (-2013) * ATF Bank (Kazakhstan, Kyrgyzstan) (-2013) * UniCredit Bank (Ukraine) (1999-2016) * YapıKredi (Turkey, Azerbaijan) (2006–2020)

Sponsorship

UniCredit Group had sponsored tennis tournaments

Czech Open Czech Open is a name given to many sports events in the Czech Republic, including: * Czech International, a badminton tournament now known as the Czech Open * Czech Open (darts), a BDO sanctioned darts tournament * Czech Open (floorball), a floorba ...

Vienna Open The Vienna Open (currently sponsored by Erste Group, Erste Bank and called the Erste Bank Open) is a professional tennis tournament played on indoor hard courts. Originally an event of the Grand Prix tennis circuit (1974–1989), it is currently p ...

(by subsidiary Bank Austria), golf tournaments

Ladies German Open The Ladies German Open was a professional golf tournament on the Ladies European Tour schedule. It was held annually from 1984 to 2014 except for two interruptions, 1992 to 1994 and 2002 to 2007. Winners Tournament highlights * 2011: Diana Luna ...

(by subsidiary HypoVereinsbank and UniCredit) and Austrian Open (by subsidiary Bank Austria). From 2009 to 2018, UniCredit was one of the main sponsors of

UEFA Champions League The UEFA Champions League (UCL) is an annual club association football competition organised by the UEFA, Union of European Football Associations (UEFA) that is contested by List of top-division football clubs in UEFA countries, top-divisio ...

. From 2025 onwards, UniCredit entered into a sponsorship deal with

Scuderia Ferrari Scuderia Ferrari (; ), currently racing under Scuderia Ferrari HP, is the racing division of luxury Italian auto manufacturer Ferrari and the racing team that competes in Formula One racing. The team is also known by the nickname "the Pranc ...

References

External links

*
Information about the UniCredit Bank (in English)
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