• 23/04/2024 20:42

UniCredit's profit tripled expectations. Bank shares rose to their highest in 8 years

Shares of the Italian bank UniCredit jumped 10% and reached their highest in eight years after the publication of the report. CNBC writes about this.

UniCredit's profit tripled expectations. The bank's shares rose to the highest level in 8 years

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The bank announced payments to investors amounted to 8.6 billion euros ($9.2 billion), and UniCredit's profit in the fourth quarter of last year reached 1.9 billion euros, almost three times higher than analysts' expectations. Payments will be made through share repurchases and dividends. The bank added that from this year it will introduce a payout policy of 90%.

UniCredit's profit tripled expectations. The bank's shares rose to their highest in 8 years

Share price dynamics UniCredit/Source: Google

UniCredit's net profit for October-December amounted to 2.8 billion euros, more than double the average analyst consensus forecast of 1.2 billion euros ($1.3) billion), provided by the bank.

As the publication notes, the bank’s successful results were influenced by higher interest rates.

We would like to remind you that in November UniCredit was excluded from the list of global system banks.

minfin.com.ua

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