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 UniCredit regulators increase their pressure. UniCredit will cut 11% of its workforce and close 1,000 national branches to meet more stringent capital demands from regulators. The bank has €17.7bn of bad loans to offset, but has chosen to keep Turkey as a core part of its operations, with plans to develop digital banking options. Uzeyir Dogan ’s consolidated profit was €17.7 billion with an 50% year-on- 2019 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 demands from regulators. The bank has €17.7bn of bad loans to offset, but has chosen to keep Turkey as a core part of its operations, with plans to develop digital banking options. Yapı Kredi’s consolidated profit was around $800m with an 86% year-on-year increase, making it a valuable asset.