- UniCredit’s net income for the second quarter was €3.34 billion, surpassing the estimated €2.51 billion.
- Total revenue reached €6.13 billion, slightly below the expected €6.17 billion.
- In Italy, revenue was €2.76 billion, close to the projected €2.78 billion.
- Germany outperformed expectations with revenue of €1.42 billion, against estimates of €1.33 billion.
- Central and Eastern Europe contributed €1.17 billion to the total revenue.
- Net interest income exceeded forecasts, standing at €3.46 billion compared to the anticipated €3.4 billion.
- Italy’s net interest income was €1.55 billion, above the estimated €1.51 billion.
- Germany recorded net interest income of €676 million, surpassing the expected €648.4 million.
- Net fee and commission income fell slightly short of forecasts at €2.12 billion versus the anticipated €2.15 billion.
- Trading profit lagged behind expectations with €192 million, compared to a forecast of €289.5 million.
- Pretax profit significantly exceeded expectations, reaching €4.29 billion against an estimate of €3.53 billion.
- Provision for loan losses was lower at €109.0 million, compared to the expected €150.4 million.
- Operating costs were slightly lower than anticipated, recorded at €2.32 billion versus the forecasted €2.35 billion.
- The cost to income ratio was 37.8%, beating the estimate of 38.1%.
- Common equity Tier 1 ratio stood at 16%, higher than the expected 15.9%.
- Analyst recommendations include 13 buys, 6 holds, and 2 sells.
A look at UniCredit SpA Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 4.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
UniCredit SpA, a global commercial bank offering a range of financial services, seems to have a positive long-term outlook based on the Smartkarma Smart Scores. With strong ratings in areas such as Value, Dividend, Growth, and Momentum, the company appears to be well-positioned for future success. This suggests that UniCredit may offer good value for investors, potential dividend income, solid growth prospects, and positive market momentum.
Although scoring slightly lower in Resilience, UniCredit’s overall high Smart Scores indicate a favorable outlook. With its diverse offerings including consumer credit, mortgages, investment banking, and asset management, UniCredit’s broad reach and services could contribute to its growth potential in the long run.
Summary: UniCredit S.p.A. is a global bank offering commercial banking services and attracting deposits. The company provides various financial products such as consumer credit, mortgages, investment banking, and asset management, operating on a global scale.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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