UniCredit plans Italian bond retreat
The bank's BTP portfolio is currently larger than those of Intesa Sanpaolo, Banco BPM and Mediobanca combined
UniCredit intends to shrink its Italian government bond (BTP) portfolio after tumult in the market sapped its capital in 2018.
On May 9, UniCredit announced it would "gradually align" the size of its BTP portfolio with those of its Italian and European peers "on a relative basis". The bank plans to reduce its holdings by not reinvesting the proceeds of maturing bonds into new issues instead of
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