UniCredit looking at acquisitions in Central and Eastern Europe -CEO to paper

MILAN (Reuters) - UniCredit is considering acquisitions in the coming years, particularly in Central and Eastern Europe, Chief Executive Andrea Orcel said in an interview published on Monday, confirming, however, a very disciplined approach to doing so.

Orcel has made no secret of his view that the sector needs consolidation, but has always said that any deal for the Italian bank had to be a good industrial fit and boost the group's earnings enough to safeguard investor returns.

"It is likely that we will make some acquisitions in the next few years, especially in Central and Eastern Europe," Orcel told newspaper Frankfurter Allgemeine Zeitung (FAZ)

After ending talks to take over Italian state-owned Monte dei Paschi di Siena in 2021, UniCredit bought Greece's 9% stake in Alpha Bank in October and also agreed to acquire most of Alpha's Romanian business.

The executive, at the helm of the bank since April 2021, however, added in the interview with the FAZ that the lender would press ahead with further deals only if the right conditions exist.

"Some banks don't want to do business. Others have very inflated prices. So we stay away from it, we are disciplined".

When asked about potential M&A in Germany, Austria or Italy -- the bank's main markets -- Orcel said these are "more difficult markets and the prices are too high."

(Reporting by Giulia Segreti and Gianluca Semeraro; Editing by Keith Weir)