UniCredit SpA

UCG: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€64.00	Msdg	Kydqvbtj

UniCredit's Prospects Have Improved Dramatically

Johann Scholtz

Nov 3, 2023

Business Strategy and Outlook

The transformation of UniCredit in two years from a perennial underperformer to one of the most profitable banks in Europe has been astounding. While the new management team has made good strategic decisions, the return to positive interest rates after a decade of zero or negative interest rates played a significant role in its transformation.

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