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AUSTRIA |
Best Bank: UniCredit Bank Austria | |
The award for Austria’s best bank goes to UniCredit Bank Austria, reflecting its exceptional financial results and its clear strategic understanding of its place in the Austrian market.
Showing impressive financial and commercial momentum, the bank has bounced back decisively from 2021, when its performance was impacted by high restructuring and early retirement costs, and 2020’s big impairment costs. Its net operating profit grew by 30% in 2022 thanks to good progress on the business side, as well as higher deposit margins leading to an 8% growth in revenues.
Austria is one of the countries that is performing best under UniCredit chief executive Andrea Orcel’s 2022 strategic plan, unveiled in late 2021, which involves a higher capital allocation outside Italy and a bigger focus on costs in countries such as Austria.