“A fortiori after the results of the stress tests, we confirm the target of a net profit of two billion at the end of the year”. This was stated by the number one of Unicredit, Federico Ghizzoni, on the sidelines of the inauguration of the new International Center in Sofia, Bulgaria. "This in itself is an announcement - he continued - because it means that NPLs (non-performing-loans, ed.) will probably decrease at the end of the year". As for the dividend policy, "it will be discussed at the end of the year," he added.
Unicredit emerged from the ECB and EBA stress tests with the second best result among the Italian groups behind Intesa Sanpaolo: the asset quality review identified a capital surplus as at 31 December 2013 of 6,45 billion and the stress test basis calculated a positive margin of 6,17 billion, which is reduced to 5,58 billion in the adverse scenario. Including, as done by the Bank of Italy, all the capital strengthening measures implemented during the year, the excess capital rises to 8,75 billion.
As regards the governance of the group, he has not ruled out the introduction of multiple votes for shareholders who have been in the capital for some time, but the decision will not be taken before January. “In case we will decide in May in the assembly, but first we have to discuss it in the board. If this were the case, everyone will benefit", commented Ghizzoni, recalling that the bank has many shareholders in Italy but also abroad and that the funds, rather than being represented on the board, want to understand what the governance mechanisms are and demand clarity on these points.
Relations with BlackRock "are very good", assured the top manager. Finally, on the sale of Uccmb, the company that manages the group's non-performing loans, Ghizzoni confirmed that he is in the exclusive phase with Fortress, which acts in consortium with Prelios, and that there are meetings every day to refine the proposal. Today in Piazza Affari, Unicredit shares closed down by 0,27% at 5,525 euros.
