Unicredit increases stake in alpha bank to 20 percent

Unicredit, the Italian banking giant, announced today that it has increased its stake in Greece's Alpha Bank to approximately 20%. This represents a significant increase from its previous holding of just under 10%. The Milan-based bank anticipates this move will generate an additional profit of around €180 million annually. Unicredit is seeking regulatory approval for the increased stake. This strategic investment underscores Unicredit's continued expansion and confidence in the Greek financial institution. Market analysts are closely watching the developments and potential impact on both banks.