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Shareholder structure

UniCredit is a public company with a free float equal to 100% of the shares outstanding and there are no controlling shareholders or shareholders' agreements. The major shareholders (above 3%) collectively represent only 16% of the share capital.


Major shareholders Ordinary shares % owned(1) 
1. BlackRock Group 114.907.383     5,122 (2)
2. Capital Research and Management Company 112,363,870     5.008 (3)
     - of which on behalf of EuroPacific Growth Fund 78,373,584 3.493
3. Allianz SE Group 69,623,563 3.103
4. Norges Bank 67,366,057 3.003

1) figures updated based on the last communication received on 26.4.2021 according to current legislation

2) non-discretional asset management
3) discretional asset management


On 14 April 2021, the temporary rules on enhanced transparency for changes in major holdings and statements about investment objectives ended. As such, as of that date, the ordinary rules come back into force, as per article 120 paragraph 2 of the Consolidated Law on Finance (TUF). So, it is necessary to notify the investee company and Consob when the stake held exceeds 3% of the capital granting voting rights in a listed company.

The table does not include any other shareholders who have exceeded the relevant threshold, but have not yet notified this or are not required to notify it under current laws.

Share capital Shares Euro
Ordinary shares 2,243,550,408 21,133,469,082.48
Summary table situation yes no
Presence of shareholders’ agreement in the company   X
Presence of controlling shareholders in the company   X
Exercise of an activity of management and coordination by the company X  

Total shareholder compositions1


Institutional shareholders2 by geography




1) Company Register, Consob "Model 120A", publicly available information, IHS Markit Shareholders analysis as of June 2021

2) Including brokers and 80% of unidentified holdings

3) Including treasury shares, CASHES and 20% of unidentified holdings


The above UniCredit shareholders' composition stems from analyses relying on heterogeneous sources, such as the shareholders' register, participation to General Meetings, communications to Consob, public filings available on the market.

The heterogeneity of sources, the different dates of updating of the sources and the dealings in UniCredit shares, are such that the representation provided is the best estimate of the UniCredit shareholders base, but the above sources are not such as to ensure that the composition represented corresponds to the actual shareholders base at any given time.

Updated on 30 April 2021.