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2Q23 & 1H23 Group Results Presentation
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"We need to streamline our business so that we can operate faster, with greater clarity, and deliver successfully for all stakeholders. This is an ambition that many aspire to but few really achieve. I believe we will be one of the few exceptions”
Andrea Orcel
Chief Executive Officer of UniCredit S.p.A.
2Q23 - 1H23 Group Results - Infographic
Title: The Bank for Europe's future: a new benchmark for banking
Subtitle: Another record-breaking set of results: best 2Q and 1H ever.
First section
Title 1: Effectively balancing our three levers to deliver long-term profitability
Text 1:
· Prioritising quality growth to create a sustainable base for the future with 1H net revenue of 11.8bn (+38% 1H/1H) and net profit of 4.4bn (+92% 1H/1H)
· Continually striving for operational excellence reaching 39% Cost / Income (-8.8p.p. 1H/1H)
· Focusing on best-in-class capital efficiency with 7.9% Net Revenue / RWA (+2.6p.p. 1H/1H)
Title 2: A trusted and reliable organisation, with a robust balance sheet
Text 2:
· Best-in-class capital position with CET1r at 16.6% in 1H23 and organic capital generation c. 210 bps, 6.5bn
· Sound asset quality with a solid credit portfolio and low NPEr at 2.6%
· Strong liquidity position with LCR>140%, L/D ratio at 90%, and 74bn excess liquidity to ECB
Title 3: Delivering sustainable excellence, underpinning future distributions
Text 3:
· Outstanding and sustainable results powered by a winning strategy and ongoing transformation
· 2023 guidance further upgraded, with net profit ≥ 7.25 bn and distribution ≥ 6,5 bn
· Preparing for a 2024 with profitability and distributions broadly in line with 2023
Second section
Title: All Regions consistently maximising efficiency and outstanding returns
Columns of the table: Profit before tax 1H23; Change (1H/1H); ROAC 1H23
Text in the table:
ITALY 2.9bn | +31% | 25.1%
GERMANY 1.3bn | +36% | 18.7%
CENTRAL EUROPE 1.1bn | +65% | 20.6%
EASTERN EUROPE 0.8bn | +89% | 34.4%
Third section
Title: UniCredit Unlocked: structural and cultural transformation from within
Text:
CLIENTS AND COMMUNITIES
Providing clients with best-in-class products and tailored services through the use of data
Supporting our communities: 10bn allocated to sustain the liquidity of Italian businesses with UniCredit per l'Italia initiative; 275 Group-wide volunteering initiatives
Best Bank in Italy, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, and CEE; Top Company in Germany
PAN - EUROPEAN LOCAL FRANCHISE
Empowering our banks and people with 30hrs training per employee and c.2000 new front-line hirings in Italy and Germany since 2022
Driving change from within and establishing a common culture across countries
> 1000 refurbished branches in Italy and Germany since 2022; enhanced omnichannel offering
BEST-IN-CLASS GROUP PRODUCTS
2 product factories already in place and a new Payments factory just set-up
Strong ecosystem of partners
#1 Investment banking fees in core countries
DIGITAL, DATA & OPERATIONS
Taking back control of core competencies: >700 talents hired in tech since 2022
Simplifying processes and optimise the operational machine: €231m invested in integration in 1H23
Transforming our bank into a data-driven organisation: 44% of data accessible in global platform
PRINCIPLES & VALUES
Building a better future for all our stakeholders, with our values and purpose rooted in all we do to extend our impact beyond financial services
Leading by example on environmental sustainability: member of Net Zero Banking Alliance; member of Ellen MacArthur Foundation to foster circular economy
Fostering equality: €100m to close gender gap on a pay level during 2022-24
FINANCIAL CALENDAR
DEBT INVESTORS
GOVERNANCE
AGM
PRESS RELEASES
ESG INVESTORS
STRATEGY
CONTACTS