Home » Orcel (UniCredit): on Mps there is a fear that it will yield to more political rather than market logic

Orcel (UniCredit): on Mps there is a fear that it will yield to more political rather than market logic

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“Reaching an agreement on conditions inconsistent with the agreed conditions would not have been in the interest of UniCredit and its shareholders and, in my opinion, also of the stability of the national banking system”. This is what UniCredit chief executive Andrea Orcel said during the hearing with the parliamentary commission of inquiry on the banking and financial system.

Orcel recalled how MPS resulted from the latest European stress tests “with the weakest capital position of all EU banks”, adding that the relaunch of the bank “still underway appears to have only begun”.

The CEO also pointed out the presence of “a mistrust that has long surrounded any operation” on Mps, a bank that is “viewed with fear of yielding to political logic” rather than on the basis of market logic.

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