If UniCredit is close to acquiring Commerzbank, it’s not just the result of a quick and crafty deal in the equities market. It comes after years of rebuilding the bank’s financial strength and reputation. Euromoney recalls how the Italian bank came back from the brink – ready to get into a position to buy Commerz.

While incumbent Italian banks have seen profits surge thanks to higher rates, the shrinking size and profitability of the non-performing loan market has hit illimity hard. Unperturbed, founder and chief executive Corrado Passera believes the original premise for an SME-focused neobank is more valid than ever.

Proponents of banking-as-a-service will be hoping that UniCredit’s decision to acquire Aion Bank and Vodeno marks a turning point in a sector that has experienced considerable volatility.

The Siena-based bank has a better bill of health and is once again a target in Italy.

Despite an overwhelmingly Italian business in retail, Intesa Sanpaolo has stepped up its share of corporate and investment banking revenue outside the country. In its global growth markets, divisional chief Mauro Micillo says the firm is here to stay.

Enel could trigger the largest step-up event in the sustainability-linked bond market if it misses its CO₂ emissions targets at the end of this year. How the market reacts will set the tone for the future of these instruments.

In one of his last interviews in office, Ignazio Visco sets the record straight on his controversial 12 years as Italy’s central bank governor: a period of almost constant crisis. Today, the country’s NPL problems seem cured but, as he acknowledges, simmering risks remain.

A market-beating increase in UniCredit’s share price is just the beginning, chief executive Andrea Orcel tells Euromoney. He must now prove the many remaining sceptics wrong and show the bank can still thrive when net interest margins fall and credit costs rise.

Slawomir Krupa may yet turn around Societe Generale. But it won’t be by shock and awe.

The political response to rising bank profits should focus more on debt distress than on deposit rates and taxation.

A new job running Bayern Munich's finances could be more rewarding for HVB CEO Michael Diederich, especially after UniCredit CEO Andrea Orcel’s push for more cuts in Germany.

With far-right leader Giorgia Meloni now set to become Italy’s new prime minister, can policies put in place by her predecessor – coupled with reputational self-help – prevent Italian banks from taking another hit?

Crédit Agricole’s purchase of a 9.18% in Banco BPM could have benefits, even if it doesn’t presage a full takeover.

After the 2020 sale of its US bank, BBVA’s global ambitions in retail are alive and well. It has entered Brazil with digital bank Neon, ploughed more capital into UK app-based lender Atom Bank and launched in Italy in a way that presages branchless growth across the eurozone.

The launch of ISY Bank spearheads a new cloud-banking strategy at the Italian lender as it seeks to reduce costs, counter fintech and target international retail growth.

In his first year as chief executive, Andrea Orcel has backed out of a deal to buy Banca Monte dei Paschi di Siena and prioritized capital distributions at UniCredit. However, his flirtation with an acquisition in Russia has shown that the bank can still raise eyebrows. Orcel talks to Euromoney about the bank’s biggest opportunities and how M&A can help realize them.

Beyond the headline-grabbing talks on buying Banca Monte dei Paschi, the new chief executive has radically reshaped the bank as he seeks to better harness its potential.

Chief executive Andrea Orcel’s new plan for UniCredit has little of the asset-selling drama of his predecessor. Whether it works better than the old strategy may be longer in the telling.

The world’s oldest bank lives to see another day, but the taxpayer – and the local workforce – will pay a heavy price

With local elections fuelling the political sensitivity of UniCredit’s mooted MPS deal, it will be even harder for CEO Andrea Orcel to secure both national support and investor returns.

With in-house asset managers in vogue, UniCredit chief executive Andrea Orcel might try to revisit the bank’s sale of Pioneer to Amundi.

Francesca Nenci, the recently appointed global head of trade finance at UniCredit, talks to Euromoney about the bank’s trade finance business and the client trends that will shape her approach to her new position.

It is the deal everyone was waiting for – but UniCredit CEO Andrea Orcel has to appear guarded, as he enters exclusive negotiations with Banca Monte dei Paschi di Siena.

The bank’s new CEO signals openness to M&A, while flagging investment fees as a key profit driver this year.

Jean Pierre Mustier has spoken candidly with Euromoney throughout his five years of running UniCredit. Here is the inside story of how the first foreign chief executive of Italy’s international banking champion came close to continental leadership but left in acrimony – after clashing with the country’s financial establishment and with chairman-elect Pier Carlo Padoan.

A primarily national approach to post-Covid bad debt has cut adrift states such as Greece and Portugal, making future banking crises more likely.

The consummate dealmaker appeals to shareholders and the board, by being an Italian with a big international profile.

In rushing to oust chief executive Jean Pierre Mustier halfway through the reporting cycle, UniCredit’s board may have revealed its weaknesses, not its strength.

UniCredit entered the Covid-19 crisis flush with capital. That money was earmarked for dividends and share buybacks. So far, it has gone on frontloading loan write-offs.

The recent wave of M&A has left behind weaker banks such as Banco BPM, Sabadell and, above all, Banca Monte dei Paschi di Siena. Jean Pierre Mustier’s exit from UniCredit shows why.