UniCredit Assessing Cross-Border Merger of Slovenian, Austrian Activities

By Pierre Bertrand

UniCredit on Tuesday said that it has begun the process of evaluating a possible cross-border merger of some of its activities in Slovenia and Austria.

Its aim is to set out a new and simpler operating model to improve upon its services in both countries, UniCredit said in a statement.

"To this end we are starting the evaluation of a possible cross-border merger of UniCredit Banka Slovenija d.d. with UniCredit Bank Austria AG and transformation of UniCredit Banka Slovenija d.d. to a branch of UniCredit Bank Austria AG," UniCredit said.?

The bank said it would further operate in Slovenia under the brand name UniCredit Bank.

This evaluation is expected to be completed in the third quarter of this year and to result in the preparation of a detailed merger plan, the bank said.

The effort comes as the bank looks to further develop opportunities in Central Europe as part of its UniCredit Unlocked strategy, it said.

Write to Pierre Bertrand at [e-mail]

(END) Dow Jones Newswires

05-30-23 0651ET