Best bank: UniCredit
Market doubts, three years ago, about whether Andrea Orcel’s management of UniCredit would be sufficiently orientated to shareholder value have proven to be far from the mark. Orcel might have shied away from a deal with the Italian government to buy Banca Monte dei Paschi di Siena in 2021, but this has not prevented UniCredit from remaining a large and growing part of the European banking story.
In 2023, UniCredit’s share price increased by 75%, compared to a 25% rise in the share price of its arch-rival, Intesa Sanpaolo.
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