MILAN May 10 Italy's biggest bank by assets,
UniCredit, does not have a timetable to present
revised financial targets as markets are still too volatile, its
chief executive, Federico Ghizzoni, said on Friday.
UniCredit said in March that because of a very difficult
economic environment it will have to review its business
Ghizzoni said the bank had not yet started paying back 26
billion euros ($34 billion) of cheap funds it took from the
European Central Bank, opting instead to use liquidity to buy
back its own bonds.
The bank also increased its holdings of Italian government
bonds to 46 billion euros, up 3 billion from the end of March,
($1 = 0.7637 euros)
(Reporting By Silvia Aloisi, editing by Danilo Masoni)