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UniCredit to open 120 branches in Hungary by 2015

Italian banking group UniCredit plans to open 120 new branches in Hungary by 2015, Gianni Franco Papa, head of the bank's CEE division, told the Austrian Press Agency (APA). The bank is set to open 900 branches in the CEE region by 2015, 150 already this year. In five years, 300 new subsidiaries would be opened in Turkey and Romania each, and new branches would open in Slovania and Poland as well. With 120 new subsidiaries, UniCredit would double the number of its outlets in Hungary.

Currently 14% of UniCredit’s overall revenues come from the CEE region. The banking group plans to increase this figure to 20% by 2015. (BBJ)