Unicredit : Le T2 2020 conforte notre approche plus prudente à CMT
>Une copie sans éclat sur l’opérationnel - UCG a publié un T2 2020, cette fois non marqué par d’importants éléments non-récurrents, comme au T1 – il en ressort une copie faciale supérieure aux attentes sur la bottom line (RN +21% vs consensus à 420 M€).La performance opérationnelle ‘sous-jacente’ ressort assez mitigée car l’upbeat sur le RN provient dans une large mesure de revenus de trading plus élevés qu’attendu (+36% vs cons à 357 M€) et de provisions sur cré...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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