UniCredit Makes Progress on Transformation Plan After Capital Raise
After the rights issue in the first quarter of 2017, UniCredit is moving ahead with its "Transform 2019" strategic plan. The fully loaded common equity Tier 1 ratio grew 2.5% year over year, supported by the disposals of Bank Pekao and Pioneer, while the asset quality further improved thanks to derisking efforts. Nonperforming exposures declined 30% versus last year and 4% compared with the prior quarter. We plan to maintain our fair value estimate of EUR 18, along with our no-moat rating.On th...
Unicredit is a pan-European commercial banking group based in Italy. Co. is engaged in the provision of in-branch and online corporate and investment banking services, providing customers with access to banks in 14 core markets as well as to an another 18 countries worldwide. Co.'s operations are organized along six business lines: Commercial Banking Italy; CEE Division; CIB; Commercial Banking Germany; Commercial Banking Austria; and Asset Gathering. Co.'s European banking network includes Italy, Germany, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Russia, Slovakia, Slovenia, Serbia and Turkey.
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