UniCredit SpA

Unicredit (UCG IM) – Attractive on Capital Distribution Potential Despite Russia

Equity Bottom-Up
197 Views, 09 May 2022 01:27
EXECUTIVE SUMMARY
  • Unicredit, with its solid capital adequacy and improved credit quality metrics, is well positioned to deliver on capital distribution, despite the Russian challenges
  • We estimate that, even on a relatively conservative basis, capital distribution yield could reach 12% in 2022 and also be at the top end of the peer group post-2022
  • Unicredit has often been in the shadow of Intesa in capital distribution, but we believe that consensus estimates are currently under-estimating the potential for dividends and share buy-backs at Unicredit
detail (5-minute read)
WHAT’S TRENDING
Insights
  • Trending
  • Latest
logo
Logo
Rising
Victor Galliano
Financials & FinTech, EM & Southern Europe
Galliano's Latin Notes
FinancialsEquity Bottom-UpThematic (Sector/Industry)

Victor Galliano is an experienced equity banks analyst, having covered Latin America banks and non-bank financials for o... 

Zoom:
NaN%
x