05-03-2023, 09:15 PM
- JPMorgan announced Monday it acquired a substantial majority of assets of First Republic.
- Banking authorities in the European Union, where UniCredit is headquartered, have repeatedly said they do not see the same level of risk in the region.
- The comments from UniCredit’s chief came after the Italian lender reported its latest results.
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A top banking executive highlighted a possible divergence in fortunes for the finance sector in both Europe and the U.S., suggesting that more rescues of American regional lenders are likely.
“In the U.S., it is about distressed banks being rescued, I don’t see any distressed bank being rescued in Europe,” Andrea Orcel, the CEO of UniCredit, told CNBC’s Joumanna Bercetche Wednesday.
“I do think in the U.S., judging from yesterday, there may be more.”
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