“No to leap forwards” – Corriere.it

Unicredit and Intesa are divided over salary increases for employees. The 22nd FABI conference remains the stage at which the increasingly heated standoff over the renewal of the bank’s contract is taking place. If on Monday Carlo Messina opens the 435 euro increase proposed by the unions on the platform (Inteza will not make any kind of negotiating approach on the economic demands of the “unionists”. We will make 7 billion in profits, it is unacceptable not to give the workers a consistent increase »), he would have Andrea Ursell has a completely opposite opinion and is very clear: « We are still in Kassel (Committee on Trade Unions and Labor Affairs, Mr. Dr), it does not seem right to foresee it, we have taken this path and we will follow it to the end”. And in recent weeks it has signed a short-week and smart-work agreement with the trade unions. Ursell noted that his bank “invests in people and does not close branches” as other banks do, and that the bonus should be considered “comprehensive”. Then the CEO of Unicredit mentioned how his bank had given a 100 million inflation bonus to “the lowest segments of the population”. According to the banker, people should be put in the center and their requests heard too: “Career advancement can be much better than an increase of 435 euros.”. Also at the Fabi conference, Camilo Vinicio, president of Banca del Piemonte and former vice president and advocate of small banks, joins the number one in the square Gae Aulenti: “I believe in Casl”, the Committee on Trade Union Affairs of the Abi, and “I can only repeat” what It was said by Unicredit CEO Andrea Orcel that the negotiations on the renewal of the contract should be managed there.

Revenue will decrease

The position taken by the CEO of Unicredit is based on a logic, which is that the current boom moment for bank accounts is destined to end. “They earn more than average for two reasons: interest rates and the very low cost of credit.” However, these two factors “will cease between 2024 and 2025”. Orcel explains that each point increase in the cost of credit for a group like UniCredit costs “120 million less in revenue” to this, and we add that “no one expects rates to stall at these levels. Prices – Orcel continued – will rise again and then stabilize at less than 3%, possibly even less than 2.5%, so these two factors will have a very significant impact on the bank’s revenue. Costs, whatever they may be, once they are high they do not go down », the banker said afterwards, referring to the future concerns expressed by the Governor of the Bank of Italy in Final Considerations. “One of the concerns that I think Visco has is that the increase in costs continues today, but if revenue starts to decline, then margins contract significantly, so the two things have to be balanced.”

assemblies and the third pole

Orcel then touched on the merger and acquisition case, which went to court again yesterday with the answers of Piero Luigi Montagni, CEO of Bper, and Luigi Lovaglio, CEO of Mps, questioning the banks. “At the moment, every Italian bank has its own strategy that does not allow” acquisitions or mergers, Unicredit’s number one noted. He added, “We have always said that mergers and acquisitions are an accelerator for our strategy. We are in the process of expanding our network and if we do mergers and acquisitions, we are accelerating this process »but« at the moment there are no numbers or intentions ». Regarding the failure to deal with the representatives two years ago, he explained: «They were and still are two complementary networks. It would have worked under the right conditions.” But it is known that Siena is looking for a bride. The partner, UnipolSai’s president, Carlo Semperi, assured that the partner would not be Bper, in which the insurance center owns almost 20%. “I repeat what was said to Consop and find it disrespectful to MPS This constant worry about the fate of poor Monty.” «Mps has a good manager whom I respect and who is engaged in the process of recovery and looking for stable profitability, it is boring to worry about the mountain. Contributor, Bper’s trajectory is not related to MPS but to his own strategy which CEO Montani said yesterday at the Fabi conference he’s been following.”