Certificati di investimento - Cap. 3 (2 lettori)
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Fabrib
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UniCredit Q1 20 Earnings:
- Revenue: EUR4.77B (exp EUR4.48B) - Net Loss: EUR2.71B (exp Loss EUR2.47B)
- CET1 Ratio At 13.44% At End-March
- Pandemic Had Limited P&L Impact
- Main Effects Were Lower New Client Acquisition And Retail Volumes
UniCredit SpA said Wednesday that it will tweak its strategic plan after it swung to a loss in the first quarter as bad-loan provisions soared and expenses related to the implementation of its cost-saving plan hit performance.
The Italian bank booked 1.26 billions euros ($1.37 billion) in provisions for bad loans, up from EUR467 million a year earlier.
Last month, it said that it would book roughly EUR900 million in additional provisions in the quarter for soured loans.
The higher provisions, coupled with one-off costs, led to a EUR2.71 billion net loss. In the same period last year, it posted a profit of EUR1.18 billion.
The results included a EUR1.3 billion charge related to the cost-saving plan it presented in December, as well as charges of EUR1.7 billion related to a transaction involving Turkish bank Yapi Kredi.
Revenue fell 8.2% to EUR4.38 billion, hit by a 3% decline in net interest income and a 63% drop in trading revenue. Fees rose 5.2%.
After completing a deep overhaul, under which it cut costs, disposed of bad loans worth billions of euros and sold assets, the bank launched in December a new four-year plan, pledging share buybacks and dividend increases, as well as cuts in jobs and costs. However, in March it put on hold dividends and buyback proposals it had planned to present to shareholders after the European Central Bank asked the region's lenders not to pay dividends or buy back shares during the coronavirus pandemic.
In light of the conditions brought about by the coronavirus pandemic, the bank will present an updated plan at a capital market day at the end of the year or early next year.
- Revenue: EUR4.77B (exp EUR4.48B) - Net Loss: EUR2.71B (exp Loss EUR2.47B)
- CET1 Ratio At 13.44% At End-March
- Pandemic Had Limited P&L Impact
- Main Effects Were Lower New Client Acquisition And Retail Volumes
UniCredit SpA said Wednesday that it will tweak its strategic plan after it swung to a loss in the first quarter as bad-loan provisions soared and expenses related to the implementation of its cost-saving plan hit performance.
The Italian bank booked 1.26 billions euros ($1.37 billion) in provisions for bad loans, up from EUR467 million a year earlier.
Last month, it said that it would book roughly EUR900 million in additional provisions in the quarter for soured loans.
The higher provisions, coupled with one-off costs, led to a EUR2.71 billion net loss. In the same period last year, it posted a profit of EUR1.18 billion.
The results included a EUR1.3 billion charge related to the cost-saving plan it presented in December, as well as charges of EUR1.7 billion related to a transaction involving Turkish bank Yapi Kredi.
Revenue fell 8.2% to EUR4.38 billion, hit by a 3% decline in net interest income and a 63% drop in trading revenue. Fees rose 5.2%.
After completing a deep overhaul, under which it cut costs, disposed of bad loans worth billions of euros and sold assets, the bank launched in December a new four-year plan, pledging share buybacks and dividend increases, as well as cuts in jobs and costs. However, in March it put on hold dividends and buyback proposals it had planned to present to shareholders after the European Central Bank asked the region's lenders not to pay dividends or buy back shares during the coronavirus pandemic.
In light of the conditions brought about by the coronavirus pandemic, the bank will present an updated plan at a capital market day at the end of the year or early next year.
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NoWay
It's time to play the game
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Per una volta lamentarsi di Donaldo è peccato. Clarida lo vorrei vedere alle prese con Von Der, Rutte e Merkel...
NoWay
It's time to play the game
Crollo degli ordini di fabbrica in Germania, a causa del lockdown per contenere il contagio da coronavirus. A marzo, mese in cui è scattato il blocco delle attività nel paese, gli ordini di fabbrica sono scesi del 15,6% rispetto al mese prima, facendo peggio delle attese degli analisti che si aspettavano una contrazione del 10%.
giancarlo22
Forumer storico
Aspettiamo di vedere i nostri nuovi conti italiani che poi mangeremo pane e acqua un giorno sì e un giorno no…...
NoWay
It's time to play the game
fabriziof
Forumer storico
Geniale!
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