UniCredit Raises Stake in Greece's Alpha Bank to 29.5%
By Elena Vardon
UniCredit secured a further stake in peer Alpha Bank, adding to the position it has been steadily building in one of Greece's top lenders in the past few months.
The Italian bank on Thursday said it bought additional financial instruments at a discount to market prices to raise its holding in Alpha Bank to roughly 29.5%, up from the 26% level it disclosed in August.
UniCredit's position as one of Alpha Bank's largest shareholders dates back to late 2023, when the groups signed a commercial partnership for the distribution of asset management and insurance products in Greece and announced the merger of their subsidiaries in Romania. In May, Chief Executive Andrea Orcel sought to deepen this relationship by doubling its stake to around 20% as his expansion efforts elsewhere faced roadblocks.
The European Central Bank has granted UniCredit authorization to increase its direct stake in Alpha Bank to up to 29.9%, UniCredit said. It can now choose to convert the financial instruments into a physical equity stake and consolidate Alpha Bank's earnings into its accounts, though this would entail a hit to its capital ratio.
Through a similar mechanism, UniCredit has amassed an around 29% stake in Germany's Commerzbank. The bank expects these strategic stakes to further boost its results from 2026 onward.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
October 30, 2025 04:11 ET (08:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States