“Europe needs more strong banks. It is strategically and politically important for the continent to have more pan-European banks that can do business with businesses. Germany, for example, is the country that exports the most to Europe. But apart from us, only one other of the most important banks is focusing on the SME segment». This is what the CEO of Unicredit, Jean Pierre Mustier said in a long interview that appears today in the German business newspaper Handelsblatt.
However, Mustier denies that his general consideration refers to merger plans between Unicredit and Commerzbank and explains that the bank he leads will remain focused on internal growth: «Transform 2019 is the beginning of a long-term strategy that goes beyond the three-year horizon of the plan. For several years to come, the focus will have to remain on objectives such as customer development, multi-channel offers, process optimization, cost efficiency and careful risk management. In general, any merger or acquisition should be viewed with great caution. Not only from a financial point of view: it is also necessary to understand whether these operations can bring value to customers and whether there is compatibility from a cultural point of view".
And he adds: “We are satisfied with the position we hold in the main markets in which we operate: we are second in Italy, first in Austria, third in Germany and number one in the EEC. We will continue to work to make Unicredit increasingly successful at European level. The transformation process is bearing fruit and the results prove it. The engine runs well."
Finally, Handelsblatt asked Mustier if it is conceivable that after 2019 he could take the place of John Cryan at the head of Deutsche Bank but Mustier's answer is definitive; "No, absolutely no. My project with Unicredit is long-term and goes far beyond the horizon of 2019".
