UniCredit raised further cash yesterday to bolster its balance sheet with three disposals worth about just over €2bn ($2.8bn), including its headquarters building in the heart of Milan.

The Italian bank, under pressure to boost its core capital ratios, sold a majority stake in a property portfolio worth about €800m, €1bn from the sale of an Austrian asset acquired during its hectic expansion into central and eastern Europe in the past few years, and a stake in Atlantia, an Italian highway tolls operator, for €248m.