Unicredit has repaid 5 billion euros of ECB LTRO funding: CEO

UniCredit (UCG.MI), Italy’s biggest bank by assets, has paid back 5 billion euros of the cheap liquidity it acquired from the European Central Bank so far, its chief executive said on Tuesday. “We have another 21 billion euros to repay,” Federico Ghizzoni said during a press conference. Ghizzoni said that with European banking union it would be possible “on paper” for banks to repatriate capital from their units outside their home country. “I expect it will go in that direction,” he said, adding however that in the medium term UniCredit did not have any liquidity problems.

    

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