UniCredit’s investment in the Greek banking system and its importance, more broadly, in the move towards the European Banking Union were discussed at a meeting held at the Ministry of National Economy this morning with the CEO of UniCredit Group, Andrea Orcel, and the CEO of Alpha Bank, Vassilis Psaltis. The Minister of Finance, Kyriacos Pierrakakis, also met with the President of Alpha Bank, Mr. Dimitris Tsitsiragos, as well as other members of the management.

The following are the relevant statements:

Kyriakos Pierrakakis: “I welcome Mr. Andrea Orcel, CEO of UniCredit, and the CEO of Alpha Bank, Mr. Vassilis Psaltis.

Their presence here seals an agreement of strategic importance: the increase of UniCredit’s stake in Alpha Bank’s share capital. An investment that has not only financial value, but also a strong symbolism, both for Greece and for Europe. First of all, it is a resounding demonstration of confidence in the Greek economy. In the progress that has been made in recent years. To Greece’s return to a path of stability, credibility, and growth. This confidence, which a few years ago seemed unimaginable, is now fully founded.

It is also confirmation of the spectacular reconstruction of the Greek banking sector. A sector that was severely tested during the financial crisis, but today has regained its momentum, with capital adequacy, digital innovation, and a focus on growth.

UniCredit’s investment, however, is not a purely Greek affair. It is also European. Because it highlights the essence of the European Union: a single, open market where investment knows no borders and economic cooperation works for the benefit of all.

This is the European acquis that we want to strengthen: a Union with deepening economic and banking integration that supports, encourages, and implements strategic synergies such as this.