BUSINESS IN SHORT

UniCredit to unite Slovak and Czech branches

UNICREDIT Bank is combining its activities on the Czech and Slovak markets, expecting synergy in the area of expenses, revenue and rationalisation of the organisational structure in 2014, the UniCredit Bank Slovakia’s Miroslav Štrokendl said on December 3 as quoted by the SITA newswire.

UNICREDIT Bank is combining its activities on the Czech and Slovak markets, expecting synergy in the area of expenses, revenue and rationalisation of the organisational structure in 2014, the UniCredit Bank Slovakia’s Miroslav Štrokendl said on December 3 as quoted by the SITA newswire.

Synergy in terms of revenue means financing bigger projects, he added.

The bank is expecting savings in the IT area as well as the purchasing of materials.

The bank has not identified what exactly the rationalisation of the organisational structure would mean, SITA wrote, adding that there is no clear answer to the question of layoffs either at the moment.

The balance sum for both banks will be about €16 billion, while UniCredit Bank Slovakia recorded at the end of September 2012 a balance sum of €4.009 billion, SITA reported.

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