MILAN (Reuters) -UniCredit has used up to 7.5 billion euros ($9 billion) of capital in excess of its targeted threshold for its expansion strategy centred around building stakes in rivals, its chief executive said on Wednesday.
Speaking at a banking conference organised by BofA Securities, Andrea Orcel said the bank’s overall excess capital was projected to reach 10.0-11.5 billion euros, leaving ample room for UniCredit to continue funding ambitious capital distribution plan.
($1 = 0.8445 euros)
(Reporting by Valentina Za, editing by Cristina Carlevaro)
