Unicredit : Q2 2020 results confirm our more cautious stance in the short to medium term
>Lacklustre performance on the operating front - UCG’s Q2 2020 results this time were not marked by significant non-recurring items, unlike in Q1 – this resulted in reported earnings that were higher than expected (net profit +21% vs consensus of € 420m).The ‘underlying’ operating performance was fairly mixed as the beat in terms of net profit stems to a greater extent from higher-than-expected trading revenues (+36% vs consensus at € 357m) and lower loan-loss pr...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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