UniCredit 1Q Net Beats; CET1 Ratio on Transitional Basis 10.50%
Source: BFW (Bloomberg First Word)
Tickers
UCG IM (UniCredit SpA)
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UUID: 7947283
(Bloomberg) -- UniCredit 1Q net income EU406m vs est. EU297m, EU512m year earlier.
Alert: HALISTER- 1Q total revenue EU5.48b vs EU5.75b yr earlier
- 1Q net interest income EU2.88b vs EU2.96b yr earlier
- 1Q net commissions EU1.95b vs EU2.01b yr earlier
- 1Q trading income EU362m vs EU619m yr earlier
- 1Q loan loss provisions EU755m vs EU980m yr earlier
- 1Q net income stands above EU640m excluding non-recurring items related to restructuring charges in Austria and Italy
- CET1 ratio on a transitional basis 10.50% end-March vs 10.73% end-Dec.
- Outlook
- Ongoing, albeit slow, progress of the economic recovery in Europe will continue to support results during 2016, facilitating improvement of asset quality, combined with commitment on cost containment and fee growth
- Statement
- Conference call at 2:30pm CET: Italian number +39 02 805 88 11; UK number +44 1212 818003; US number +1 718 7058794
- PREVIEW here
- Related
- UniCredit is trading on 5.7x next year’s earnings vs 8.7x for Stoxx 600 Banks index: Bloomberg data
- Of 36 analyst ratings, 14 are buy, 17 hold, 5 sell
Source: BFW (Bloomberg First Word)
Tickers
UCG IM (UniCredit SpA)
To de-activate this alert, click here
UUID: 7947283