Unicredit : Already a busy start to 2020 and the rest of the year is likely to be tough
>Q1 2020 characterised by substantial one-offs - UCG's Q1 2020 figures were marked by substantial one-offs, reflecting a net loss of € 2.7bn (vs -€ 1.5bn for consensus), with ~€ 1.7bn of negative impact from Yapi Kredi (forex reserves, announcement of a gradual ‘exit’ from Turkey end-2019), ~€ 1.3bn of restructuring charges (scheduled as part of the Team 23 plan), ~€ 0.9bn of additional provisions in anticipation of the impact of COVID-19 on loan quality (IFRS 9 updat...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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