UniCredit named Global Bank of The Year 2023 by The Banker

UniCredit named Global Bank of The Year 2023 by The Banker

Bank also recognised as ‘Bank of the Year in Western Europe’, ‘Bank of the Year in Italy’ and ‘Bank of the Year in Bulgaria’, in resounding proof of ongoing transformation.

UniCredit was hailed Global ‘Bank of the Year’ for 2023 at The Banker’s annual ceremony in London, in a first for the bank, as well as being named ‘Bank of the Year in Western Europe’, ‘Bank of the Year in Italy’ and ‘Bank of the Year in Bulgaria’.

“The Italian bank with a significant footprint across 13 markets in western and central and eastern Europe is running a marathon to digitise and optimise every process within its business. As part of its UniCredit Unlocked 2022–2024 Strategic Plan, which aims to deliver a more competitive offering and to be Europe’s bank for the future, UniCredit is rebuilding its IT architecture using application programming interfaces, cloud infrastructure and customised data analytics, to offer higher levels of customisation across all client segments.” said The Banker.

In October, UniCredit Romania created the third-largest bank by assets in the country, following its merger with Alpha Bank Romania, with a combined market share of 12%. The transaction is expected to close some time next year. The two banks also forged a partnership in Greece, to distribute UniCredit’s asset management and unit-linked products to Alpha Bank’s 3.5 million customers. The two banks will also develop pension-saving products, with UniCredit becoming a 51% shareholder in AlphaLife.

Regarded amongst the leading industry standards for banking excellence, The Banker’s ‘Bank of the Year Awards’, evaluates the world’s leading financial institutions, based on their ability to deliver returns, gain strategic advantage, and serve their markets.

The Banker, part of the Financial Times Group, provides economic and financial intelligence for the world’s financial sector and has built a reputation for objective and insightful reporting since its inception in 1926.

Commenting on UniCredit’s standout performance, Joy Macknight, editor of The Banker, said: “UniCredit is an impressive turnaround story, delivering more than 200% increase in profits during the full year under review, reducing its cost base and achieving its best Q1 results ever in 2023. It is well on its way to deliver its ‘UniCredit Unlocked’ 2022-2024 Strategic Plan, exceeding its ambitions to date. The bank is in the second phase of its industrial transformation, having made significant investments in digital and data. Alongside revamping its IT architecture through API and cloud infrastructure, UniCredit is investing in digitising all its processes to improve the employee experience. Its ESG commitments are ahead of peers, particularly its efforts to strengthen its focus on social issues. Its landmark partnerships with Allianz and Azimut illustrate the bank’s foresight in providing excellent customer service and offerings”. 

Joy Macknight, editor of The Banker,

Over the last two years, since the launch of its UniCredit Unlocked strategic plan, UniCredit has relentlessly worked on its cultural and industrial transformation, streamlining its systems, increasing its digital and data capabilities, and embedding ESG principles in everything it does – in order to become a fundamentally better, stronger bank for the communities it serves.

Andrea Orcel, Group CEO and Head of Italy, UniCredit, said: “We are immensely proud of these achievements, which demonstrate the collective strength of our thirteen banks across Europe and how are keeping the client at the centre of everything we do. All of this has, of course, been made possible by our colleagues uniting behind our strategy and the culture of excellence we have fostered within our bank. We will continue to raise the bar on behalf of our clients and communities our path to be the bank for Europe’s future”.

Andrea Orcel
Chairman of Unicredit Foundation and Chief Executive Officer and Head of Italy of UniCredit Group

Earlier this year, UniCredit has also been named Best Bank for Innovation in Digital Banking, Western Europe and Best Bank for Payments by The Banker as part of its Innovation in Digital Banking and Transaction Banking Awards programmes.

The new accolades are a significant recognition of the forward momentum of UniCredit’s ongoing transformation, already testified by this year’s Euromoney Awards for Excellence, when the bank was named Best Bank in Central & Eastern Europe, Best Bank and Best Investment Bank in Italy, and in other four countries where the bank is present.