Business · Companies · 9 hrs ago
UniCredit shifts to organic growth after dropping Banco BPM bid
UniCredit has shifted to organic growth in Italy after dropping its plan to acquire Banco BPM.
CEO Andrea Orcel said the bank had once viewed the acquisition as a good deal, but changed course.
UniCredit had launched a bid for Banco BPM and later withdrew it, after the Italian government used its special powers.
Orcel was asked about Credit Agricole's proposed merger with Banco BPM.
He said UniCredit believes it can achieve as much, or more, by expanding its own business.
Its market share in target segments rose by 130 basis points from August to August, Orcel said.
UniCredit has shifted its strategy in Italy to organic growth after withdrawing its bid for Banco BPM.
Chief Executive Andrea Orcel said the bank believes it can achieve the same or better results through organic growth.
He said UniCredit’s market share in its target segments in Italy rose by 130 basis points from August to August.
The bid was withdrawn after the Italian government invoked its “golden power,” according to ANSA.
- Who
- UniCredit and its chief executive, Andrea Orcel.
- What
- UniCredit withdrew its bid for Banco BPM and shifted to organic growth in Italy.
- When
- Orcel’s comments were reported on November 9, 2026. The market-share comparison was from August to August.
- Where
- Italy.
- Why
- UniCredit said it believed organic growth could achieve the same or better results; the bid was also withdrawn following the government’s use of golden power.
This story does not have two clearly opposing sides.
UniCredit launched a bid for Banco BPM, which it later withdrew.
UniCredit changed course and strengthened its organic-growth plan in Italy.
UniCredit’s market share in its target segments in Italy increased by 130 basis points.
- Bid target
- Banco BPM
- Chief executive
- Andrea Orcel
- Market-share increase
- 130 basis points
- Strategy in Italy
- Organic growth
- Government measure cited
- Golden power
What people are saying
At the time we thought the acquisition of BPM was a good deal. But it did not turn out that way.
We have completely changed direction.
From August to August, our market share in the target segments in Italy increased by 130 basis points.