Report
Johann Scholtz
EUR 100.00 For Business Accounts Only

UniCredit's 1Q19 Maintains Bullish Fiscal 2019 Guidance

No-moat UniCredit reported net profits of EUR 1.4 billion for the first quarter of 2019, 25% higher than the EUR 1.1 billion it reported for the first quarter of 2018. There were, however, several below-the-line items that distorted the results, and if we look at UniCredit's own disclosure of what it views its operating results, net operating profit was broadly stable. A disappointing 3% decline in revenue was offset by operating costs coming in 4% lower and a 6% decline in loan loss provisions....
Underlying
UniCredit S.p.A.

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Johann Scholtz

Other Reports on these Companies
Other Reports from Morningstar

ResearchPool Subscriptions

Get the most out of your insights

Get in touch