UniCredit plans to keep its 50 % share in Turkish bank Yapı Kredi , in spite of a corporate decision to raise capital and lower costs as EU regulators increase their pressure . UniCredit will cut 11 % of its workforce and close 1,000 national branches to meet more stringent capital requirements from regulators . After the bank announced last week that it would cut 11 percent of its workforce across its businesses in Europe and shutter 1,000 branches in Italy, the fate of its shares in Yapı Kredi, Turkey’s fourth-largest lender, had come into question. The bank has € 17.7bn of bad loans to offset , but has chosen to keep Turkey as a core part of its portfolio , with plans to explore digital banking options . Yapı ' ’s consolidated value was around $ 800 m with an 86 % year - on - year increase , making it a valuable asset .
UniCredit plans to keep its 50 % share in Turkish bank Yapı Kredi , in spite of a corporate decision to raise capital and lower costs as EU regulators increase their pressure . UniCredit will cut 11 % of its workforce and close 1,000 national branches to meet more stringent capital requirements from regulators . The bank has € 17.7bn of bad loans to offset , but has chosen to keep Turkey as a core part of its portfolio , with plans to explore digital banking options . Yapı ' ’s consolidated value was around $ 800 m with an 86 % year - on - year increase , making it a valuable asset .