European banking’s biggest disadvantage against the US is its fragmented market. The lack of a completed banking union, starkly differing mortgage markets, and other factors, mean pan-European groups don’t work.
UniCredit, especially over the past year, has challenged this perceived notion head on, in part because its existing business across the continent is performing so well.
Chief executive Andrea Orcel and his team have simultaneously helped to dismantle the reticence – lingering in European banking since 2008 – about engaging in hostile takeovers and stake-building as a way of forcing through consolidation of Europe’s fragmented banking sector.
Thanks for your interest in Euromoney!
To unlock this article, enter your e-mail to log in or enquire about access:
