UniCredit CEO says situation at embattled bank 'under control'

MADRID (Reuters) - UniCredit Chief Executive Federico Ghizzoni said in Madrid on Monday the situation inside the struggling Italian bank was under control ahead of an extraordinary board meeting on governance issues set for Tuesday.

"There is nothing dramatic going on inside the group, the situation is definitely under control ... We don't have any tension," Ghizzoni said at an event at Madrid's stock exchange to launch a new Spanish office.

Ghizzoni has headed Italy's largest bank by assets since 2010 but has faced calls to resign amid growing shareholder discontent over its weak share price performance, stretched capital position and low profitability when compared to rivals.

(Reporting by Angus Berwick; Editing by Paul Day)