Unicredit : A Q3 2019 which virtually validates the targets of Transform 2019
>Operating: the group ‘ticks all of the boxes’ - The Q3 2019 publication was broadly disappointing, with a reported net profit of € 1.85bn (+10% vs consensus) – the gap was due notably to the cost of risk (> forecasts) and revenues (< forecasts). The quarter is, moreover, marked by the absence of one-offs unlike Q2 2019 (sale of Fineco stake) and Q2 2018 (impairment Turkey). Interest income = € 2.56bn (in line vs consensus & -5 y-o-y) / Fees = € 1.57bn (+1% ...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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