UNICREDIT REPORTS STRONG FULL YEAR RESULTS

Over the past few months, the constraints of the pandemic have forced our Group to accelerate our digital transformation and improve our customer service. Such efforts have helped us stay close to our clients, colleagues, and communities – often in ways we had never experienced before.

“Thanks to your hard work and extraordinary commitment, UniCredit remained open for business at all times and delivered an underlying net profit of €1.3 billion for full year 2020”, said Ranieri de Marchis, who has been appointed General Manager ad interim. CEO designate Andrea Orcel will take up his position after UniCredit’s AGM on 15^th April.

Such performance is even more impressive, given that Covid-19 resulted in the worst downturn of the last 80 years.

UniCredit closed 2020 with a fully loaded pro forma CET1 capital ratio of 15.08%, which positions our Group amongst Europe’s best capitalised banks and allows us to face the future with confidence – supporting our clients while growing the bank.

The General Manager ad interim also recognised the outstanding efforts of UniCredit’s employees: “All of this would not have been possible without your leadership and very effective teamwork. Colleagues across all levels and in all functions worked with incredible dedication and commitment to operate the bank safely whilst supporting our communities over the past year.”

“THANK YOU! Everyone at UniCredit should be proud of this achievement.”

With the publication of the results, UniCredit confirms an underlying net profit target of over €3 billion for 2021 and plans to resume dividend payments after the bank’s AGM in April.

Finally, Ranieri de Marchis summed up the path UniCredit should keep following in the upcoming months: “Our results and our reputation are built day by day, month by month, quarter by quarter. In the run-up to the Shareholders’ Meeting, together with the leadership team, I am committed to ensuring that we continue to meet the growing expectations of our clients, colleagues, shareholders, and other stakeholders.”

He also expressed his appreciation for the confidence placed in him: “I would like to thank the Board of Directors for trusting me with the assignment as General Manager ad interim. It will be my honour to serve and ensure managerial continuity across the Group. I will also continue to keep the responsibility for my role as Co-COO.”

“UniCredit will continue to Do the right thing! and be #PartOfTheSolution in all our geographies, supporting our clients, communities, and each other as #OneTeamOneUnicredit.”

Watch Group CFO Stefano Porro discuss UniCredit’s full year results.