WE ARE IN A STRONG POSITION
Thursday 05 November 2020
Jean Pierre Mustier and Stefano Porro discuss UniCredit’s latest financial results and how the bank’s strong balance sheet means we can continue to support the real economy
UniCredit’s third quarter results show a 31% increase in underlying net profit, driven by increased client activity and lower loan loss provisions. Thanks to our continued cost control and our focus on efficiency, we managed to more than offset expenses related to the Covid-19 pandemic.
The bank is in a strong position to face the second wave of the health crisis, where our strong balance sheet and conservative approach to risk are very important.
Together, we will deliver our full year net profit target of more than €800 million and our FY21 target of €3 to €3.5 billion.
Finally, our ongoing commitment to sustainability received further recognition in the quarter. We were ranked #1 for sustainability-linked loans by Bloomberg and awarded ‘Best Social Impact Bank in Europe’ by Capital Finance International.
We will continue to do everything we can to protect the health and safety of our colleagues. And we will continue to support our clients, the real economy and our communities in the countries where we are present. Just as during the first wave, we are committed to being part of the solution.
Let’s continue to: Do the Right Thing! as a pan-European winner.