Unicredit, profit of 5.2 billion: best result of the decade. Via Maxi Buyback

Unicredit, profit of 5.2 billion: best result of the decade.  Via Maxi Buyback

Archived by UniCredit 2022 with a net profit of 5.2 billion. The result is higher than the analysts’ estimate of 5.13 billion. Accountant 6.5 billion. In the fourth quarter, the result was 1.4 billion (1.16 billion consensus) compared to a loss of 1.4 billion in the same period last year due to unusual one-time items. The accountant 2.4 billion.

«UniCredit It has achieved a series of exceptional financial results that show significant progress in the course of industrial transformation and the ability to obtain excellent performance throughout the cycle. “For a decade. We are very focused on the implementation of UniCredit Unlocked and look to the future with confidence, ”adds the director. The bank announced a net Its projected 2023 earnings, including Russia, are broadly in line with the group’s 2022 net profit.

Coupons and buybacks

With regard to the distribution to shareholders, for the year 2022 it is equal to 5.25 billion, an increase of 1.5 billion (+40%) compared to the previous year, with a proposed cash dividend of 1.91 billion. The Group intends to proceed with the buyback of treasury shares for approximately €3.34 billion, subject to the approval of the supervisory bodies and shareholders. Gae Aulenti aims to implement the repurchase process in two tranches, the first is equivalent to approximately 2.34 billion, to be launched immediately after the approval of the ordinary shareholder meeting scheduled for next March 31, while the second, which is equal to about 1 billion, is expected during the half The second of 2023 after the completion of the first tranche.

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Revenue is more than $18 billion

UniCredit, excluding Russia, delivered record revenue growth “supported by a favorable interest rate environment and strong business momentum,” the note states. This resulted in net revenue of $4.7 billion in the fourth quarter, up 34.9 percent year-over-year, and $18.1 billion for the year, up 14.7 percent year-over-year. The result reflects strong risk-adjusted profitability, with targets achieved across all major levers and across all businesses, supported by strong growth in net interest income in the quarter of approximately 41 percent year-over-year and 42.5 percent quarter-on-quarter, to €3.2 billion. In 2022, net interest income grew 16 percent year-on-year, to $9.9 billion. Provisions for lower loan losses, of €0.6 billion in the fourth quarter, were down 17.8 percent year-on-year in the quarter, despite pre-existing strong lines of defense being reinforced during the year.

Separation of Russia

Russia’s cross-border exposure was appropriately managed and reduced during the year, at minimal cost, overall by approximately 66 percent, or approximately €4.1 billion, thanks to proactive and disciplined actions. Unicredit, you read the note on accounts, is committed to maintaining a progressive risk-reducing approach.

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