Unicredit announces accounts growing beyond expectations and a strengthening of collaboration with Allianz in Italy and abroad.
On the accounting side, the institute files 2021 with a accounting net profit equal to 1,5 billion, which compares with the loss of 2,78 billion recorded in 2020. Theunderlying net profit it reached $3,9 billion, up $2,6 billion year on year. The result exceeds the group's target, which aimed at 3,7 billion. The RoTE underlying is 7,5%.
I total revenue instead, they stand at 18 billion, up 4,8% compared to 2020. Also in this case the figure beats the group's expectations, which stopped at 17,5 billion.
In terms of coupons and buybacks, on 8 April the Board of Directors will propose to the shareholders' meeting an ordinary distribution of 3,75 billion, made up of cash dividends of approximately 1,17 billion (against 520 million in 2020) e share buybacks for approximately 2,58 billion.
“We reaffirm our commitment to significantly increase returns to our shareholders without compromising our strong capital position – underlines Andrea Orcell, CEO of Unicredit – Even considering the distribution of 3,75 billion, in fact, we ended the year with a pro-forma CET1 ratio of 14,13%. These results are the prelude to what our capital-light model will enable us to achieve in 2022 and beyond, to the benefit of all our shareholders.”
Unicredit and Allianz strengthen the international partnership
As regards the collaboration with Allianz, the two companies have signed an international framework agreement "which lays the foundations - reads a note - for better collaboration in favor of the customers of both groups, which boast a highly successful partnership in the the bancassurance sector since 1996”. The agreement includes Italy, Germany, Central and Eastern Europe, a perimeter in which Unicredit has over 15 million customers and Allianz around 30.
Joint investments are also planned in the fields of training and marketing, with the aim of integrating processes and accelerating their digitalisation.
In addition, the foundations will be laid for a partnership between the two groups in the insure-banking sector, which will allow Unicredit to offer its banking products through Allianz platforms in Germany, Italy and other countries.
“This agreement, which marks a step forward in the implementation of our plan – continues Orcel – is a testimony of what can be achieved through a true, strong and effective partnership. It brings together our best customer offerings, innovation and technological integration for the benefit of our customers and those of Allianz, demonstrating our commitment in this sector. It is an example of how we intend to streamline our joint ventures and maximize the benefits of all future partnerships."
“We are pleased – added Oliver Bäte, CEO of Allianz – to continue and strengthen our successful partnership with the Unicredit group. I am pleased to be able to secure the future of our common customer base with world-class products and services.”
