ROME: UniCredit will have more than 10 billion euros ($10.60 billion) in excess capital by end-2023 and will consider whether to use it for M&A deals or to reward its shareholders, the lender’s Chief Executive said in an interview published on Wednesday.

“If M&A at our conditions is complicated, what is left is distribution (of capital).

Italy’s UniCredit, Greece’s Alpha Bank to merge Romanian units

Therefore what we will give back from 2024 will have an ordinary component and probably and extraordianry one,“ Andrea Orcel told Italian financial daily Il Sole 24 Ore.