Unicredit closed the first semester with a net book profit of 1,3 billion (+27,7% on the previous six months). Even more significant is the performance recorded only in the second quarter, which the Bank files with profits of 916 million euros, up 75,3% on an annual basis. Again between April and June, revenues amounted to 6,1 billion (+7,1% year on year).
The Bank also announced that it has signed an agreement to see Sia its data processing activities card payments in Italy, Germany and Austria a half a billion euros in cash. The transaction will generate a consolidated net profit of approximately €440 million for UniCredit in 2016, with an expected positive impact on the fully loaded Cet1 ratio of approximately 12 basis points. Closing of the transaction is expected by the end of 2016, once customary regulatory approvals have been obtained.
Going back to the accounts, adjusted group net income it stands at 687 million in the second quarter, excluding net extraordinary items of approximately 230 million. On the other hand, in the half-year adjusted net profit was equal to 1,3 billion (+28,7% half-year on half-year) and Rote at 6,4%. Revenues amounted to 11,6 billion (+1,1% on the previous six months).
In the second quarter the Cet1 UniCredit's fully loaded ratio stood at 10,33% and rises to 10,53% on a pro-forma basis including 20 basis points generated by the recent disposals of FinecoBank and Bank Pekao shares. Another 12 points, as mentioned, will come from the sale of the payment card business to Sia.
As regards the trend a Business Square, after the sharp drop in the last two sessions the securities of the banking group it collapsed by 4,3% at the beginning of the afternoon, to 1,764 euros, in a day of very strong volatility that had pushed them up sharply before the accounts (+2,8%, to 1,897 euros).
In yesterday's session, Unicredit had been affected not only by the general weakness of the sector - in the wake of the results of the stress tests and the profit warning by Commerzbank - but above all by the press rumors regarding a possible capital increase, which after the outcome of the stress tests it has been quantified up to 7-8 billion euros.
