UniCredit Boosts Digital Ambitions with €376 Million Acquisition of Aion Bank and Vodeno

UniCredit Boosts Digital Ambitions with €376 Million Acquisition of Aion Bank and Vodeno

(IN BRIEF) UniCredit has acquired 100% of Aion Bank and Vodeno for €376 million, marking a significant milestone in its Unlocked strategy to boost digital banking. This acquisition provides the bank with an advanced, cloud-based core banking platform that features API connectivity and smart contract technology, enabling it to offer a modern neo-bank experience combined with traditional financial strength. The strategic move is designed to enhance UniCredit’s digital capabilities and market presence, with plans to re-enter the Polish market and expand into select Western European countries. The investment is expected to yield a substantial positive impact on the bank’s bottom line within three years, while only minimally affecting its consolidated CET1 ratio.

(PRESS RELEASE) MILAN, 7-Mar-2025 — /EuropaWire/ — UniCredit has acquired 100% of Aion Bank SA/NV and Vodeno Sp. z o.o. for a total of €376 million, marking a pivotal step in the bank’s Unlocked strategy to accelerate its digital banking transformation. This transaction, which received all necessary regulatory approvals, enables UniCredit to quickly expand its digital footprint by integrating a state-of-the-art, cloud-based core banking platform equipped with API connectivity and smart contract technology. The platform will allow the bank to offer a neo-bank-like user experience combined with the strength and oversight of a traditional institution.

The move is expected to deliver a substantial impact on UniCredit’s bottom line within three years, with plans to re-enter the Polish market and expand into select Western European countries. UniCredit aims to invest up to €200 million in this initiative, targeting a payback period of under two years, the acquisition of 2.5 million new clients, a ROAC above 25%, and a cost income ratio of 34% within three years. CEO Andrea Orcel highlighted that the deal not only bolsters the bank’s technological expertise with a proven, modern system but also opens doors to new market segments and innovative financial services, including an enhanced Banking-as-a-Service offering.

With this strategic acquisition, UniCredit has secured a next-generation digital banking platform that promises greater flexibility, reduced costs, and faster time-to-market for new solutions, thereby reinforcing its competitive edge in the digital banking landscape. The transaction is anticipated to have a minimal negative impact on UniCredit’s consolidated CET1 ratio—approximately 12 basis points.

Media Contact:

MediaRelations@unicredit.eu
InvestorRelations@unicredit.eu

SOURCE: UniCredit

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