1/28, 7:10 AM (Source: TeleTrader)
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UniCredit's Q4 revenue at €4.4B, up 4.7% on the year

UniCredit said on Friday that its revenue in the fourth quarter of 2021 amounted to €4.4 billion, 4.7% higher compared to the same period a year earlier. The Italian lender's net operating profit soared to €1.15 billion and underlying net profit stood at €810 million. Operating costs were up 0.6%, while the bank's CET1 ratio was strong at 15.03%.

For the entire year, the revenue rose 4.8% to €17.9 billion, while its net operating profit climbed to €6.5 billion. The underlying net profit of the Italian bank reached €3.9 billion.

"Our commitment to significantly increase shareholder returns without impacting our robust capital was reconfirmed, and we intend to distribute a total of €3.75 billion to investors in dividends and share buybacks, pending approvals, whilst also ending the year with a CET1 ratio of 14.13 percent pro-forma for those distributions," UniCredit CEO Andrea Orcel commented.

Baha Breaking News (BBN) / BU