UniCredit CEO sees shift in investor sentiment towards European banks

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MILAN (Reuters) - The head of Italy's biggest bank, UniCredit CRDI.MI, welcomed on Wednesday a European Union's deal on a post-pandemic recovery fund and said Europe's good response to the crisis was helping to drive a shift in investor sentiment towards the bloc's banks.

In an interview with Euromoney, UniCredit boss Jean Pierre Mustier said long-term investors in European banks were not put off by the European Central Bank’s decision to freeze dividends, but it was important for the regulator to give clarity on the prospect for future earnings distribution and the use of excess capital.

Reporting by Valentina Za, editing by Giulia Segreti