Unicredit aims to sell its Turkish subsidiary Yapi KrediSigorta within the first six months of next year. This was stated by the number one in Piazza Cardusio, Federico Ghizzoni, explaining that the operation will be closed as soon as a really interested buyer has come forward. According to some rumors, the company is targeted by Generali Assicurazioni. Yapi Kredi Sigorta is the insurance arm of Yapi Kredi, co-owned by UniCredit and Koc Holding.
During a press conference in Istanbul, Ghizzoni specified that the Italian Bank does not intend to completely abandon Turkey, a country in which it intends to continue its investments.
Ghizzoni then reiterated that the Bank is in a position to repay part of the funds obtained with the ECB's Ltro operation. However, it will be necessary to evaluate the liquidity market in Europe before making a decision, which will therefore come at the last minute.
At the end of the morning, the Unicredit stock on the Stock Exchange gained 1,3%.
