Like other financial institutions around the world, UniCredit Group has been challenged by recent events affecting our industry.
We believe in the structural integrity of our organization and in the positive effect of the actions we are undertaking to face this scenario. "Insieme 2009" projectGroup's initiative for families which experienced difficulties, offering them the possibility to request the payment of mortgage instalments to be suspended. "Impresa Italia" projectProject undertaken by our Group to finance Italian small and medium enterprises, which are among the most important driving forces of Italian economy. Capital strengthening initiativeAnnounced on October 6, will boost our capital position and make our Group firmer than before. It has underscored the trust that the Board of Directors and our core shareholders have in our fundamental strength and in our ability to continue to deliver results. StorylineCredit market turmoil has hammered the global banking system since the summer of 2007, leading to significant asset writedowns, thus reducing global bank lending, and contributing to a sharp slowing of the world economy. 
  UniCredit Research presents 2010 economic outlook
UniCredit Research remains cautious on eurozone GDP growth in 2010 and forecasts a year of only moderate recovery. Inflation should remain under control, and the ECB probably won’t raise the refi rate until 2011. Bond yields are set to rise, and USD could suffer during the first half of the year.
Updated on: |
