Sale or IPO. These are the two alternatives to the study of Unicredit for the future of the subsidiary Pioneer, an asset management company worth between 2 and 3 billion euros. He writes it this morning the Financial Times website, recalling that last week the bank announced that it had closed 2013 with a red of 14 billion euros mainly linked to adjustments and write-downs.
From the communications to Consob it then emerged that the funds BlackRock they rose to 5,25% of Unicredit's capital from the previous 2,2%, thus becoming the second largest shareholder in the bank led by Federico Ghizzoni. Meanwhile Kepler Cheuvreux confirmed the hold recommendation on the stock, raising the target price to 6,4 euros from the previous 5,80 euros.
As for the performance of Unicredit shares, this morning, one hour after opening, they gained 2,84%, to 6,335 euros, after closing last week with a rise of 6%, in sharp contrast with the -1% recorded from the FtseMib index.
The institute has also announced that it will listed by 2014 Fineco Bank, the group's online subsidiary. The Bank confirms that it intends to continue the active management of the equity investment portfolio and to think about the sale of Uccmb, UniCredit Credit Management Bank, the subsidiary which is responsible for managing and collecting the main part of non-performing loans originating in Italy.
The Unicredit Board of Directors also approved the new one last Tuesday strategic plan 2013-2018, which forecasts a net profit of 6,6 billion in 2018, with a group Roe of 13% and a Cet1 Ratio of 10%, "fully anticipating the effects of Basel 3". The plan also provides for the "distribution of a dividend with an average payout of approximately 40%". Asset quality, reads the press release issued by the institution, "remains a priority, with a target coverage ratio of above 50% on non-performing loans and a cost of risk below 70 basis points in 2018" .
