As announced on 11 July 2016, UniCredit is undertaking an in depth Group-wide strategic review, the outcome of which will be unveiled at a London Capital Markets Day on 13 December 2016, said the bank in a statement.

The strategic review is focusing on how to reinforce and optimize the Group's capital position, improve profitability, ensure continuous transformation of operations, maintain flexibility to seize value creating opportunities. It will encompass all major areas of the bank. There will be specific focus on capital optimization opportunities, further cost reduction, cross selling across Group entities and above all, further improved risk discipline.

As part of the capital optimization objective, the Group is reviewing a number of alternatives and potential actions, including a possible rights issue.

No firm decision has been taken as to which actions the Group will undertake as part of its capital optimization initiatives or as to the terms upon which any such potential transactions might proceed.

As stated, the results of the strategic review will be communicated to the market on 13 December 2016.