5/5/2022, 7:17 AM (Source: TeleTrader)
more TeleTrader news

UniCredit's Q1 net revenue at €4.7B, up 7.9% YoY

UniCredit revealed on Thursday that its net revenue, excluding Russia, was €4.7 billion in the first quarter of fiscal 2022, marking a 7.9% increase compared to the same period a year earlier. The total revenue amounted to €5.01 billion, increasing 7.3% year on year.

The bank's net operating profit, excluding Russia, amounted to €1.2 billion, soaring 48% on an annual basis. Operating costs went down 3% year on year to reach €2.3 billion, while the bank's CET1 ratio was at 14%.

The bank confirmed a €1.6 billion 2021 share buyback. "UniCredit delivered another excellent quarter of high quality financial results across all our businesses... Healthy organic capital generation means we have maintained a very strong CET1 ratio of 14.0 per cent, which includes €1.6 billion for the 2021 share buyback, dividend accrual and the negative impact of our exposure to Russia," noted Chief Executive Officer of UniCredit SpA Andrea Orcel.

Baha Breaking News (BBN) / AY