Report
Carine Maciol

Unicredit : Nous abaissons notre recommandation à Neutre

Si en première lecture la publication des T3 était décevante, en seconde lecture, cette dernière publication a l’avantage d’épurer deux problématiques, les sanctions US et la Turquie. Les révisions des objectifs de solvabilité sont limitées et permettent de conserver un buffer confortable aux exigences réglementaires. L’impact actuellement le plus visible de la crise politique italienne est sur l’avancée du programme de funding. La banque a pris du retard alors qu’il demeure un b...
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
Oddo BHF
Oddo BHF

​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.

Analysts
Carine Maciol

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