UniCredit to expand eastwards

Europe’s fourth-largest bank, UniCredit has presented bold plans for growth in central and eastern Europe, where it is already the top lender. Over the next two years the Italian bank intends to open 1300 new branches and hire 11,500 workers to take advantage of what it called “dynamic growth” in that region. But it will reduce its presence in western Europe, cutting 9,000 people from a total workforce of 100,000 in Italy, Germany and Austria.

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