UniCredit's 4Q Is a Mess, but Plan Is Taking Shape
UniCredit’s fourth-quarter results were predictably poor, as the numerous charges the firm outlined at its capital markets day in December pushed the firm to a net loss of EUR 14 billion. We plan to maintain our EUR 18 fair value estimate, which reflects the bank’s recent reverse stock split and in-process capital raise, as well as our no-moat rating. Excluding the variety of charges, the bank’s adjusted profit was EUR 1.3 billion, reflecting modest improvements from lending more than offset by ...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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