“I would not rule out a possible acquisition if the right opportunity should arise,” said Roberto Nicastro, general manager of UniCredit Group and the “right hand” of CEO Federico Ghizzoni.
He added that an expansion in Romania is on UniCredit’s agenda as the group plans to be in the top three at a certain moment.
This is the first time a UniCredit high-ranking official is speaking about a possible acquisition, after the Italians have so far focused on the idea of organic growth, even putting forward an ambition plan to open of as many as 300 branches in the following years.
Should the organic growth strategy be maintained, Nicastro says that UniCredit is likely to invest between EUR50 million and EUR100 million in Romania over the next two to three years. “The volume of investments depends on the opportunities that arise, it is not fixed in stone. We want to expand the network.”