Unicredit : A promising start to the year...
>A convincing 2019 at the operating level - Unicredit reported a set of quality Q1 2019 figures with reported net profit of € 1.39bn (+17% vs consensus), buoyed by 1/ a lower-than-expected cost of risk, 2/ revenues (+1% vs consensus) mainly driven by the positive impact of the sale of property assets and 3/ provision releases (see litigation in US). Interest income = € 2.65bn (-1% vs consensus & flat y-o-y) / Fee income = € 1.66bn (-1% vs consensus & -5% y-o-y)...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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