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Italy's UniCredit mulling merger of Slovenian and Austrian units

Reuters
·1-min read
The UniCredit bank logo in the old city centre of Siena, Italy

MILAN (Reuters) - Italy's second-largest bank UniCredit said on Tuesday it was considering merging its Slovenian unit UniCredit Banka Slovenija d.d. with UniCredit Bank Austria.

Under the deal, UniCredit Banka Slovenija d.d. would become a branch of UniCredit Bank Austria AG, the bank said in a statement.

"The goal of the evaluation is to define a new and simpler operating model ... in both countries," it said, adding that henceforth the Unicredit Group would operate in Slovenia under the brand name UniCredit Bank.

UniCredit said it expects to complete the assessment on the possible merger in the third quarter of 2023.

(Reporting by Elisa Anzolin, editing by Alvise Armellini and Gavin Jones)