UniCredit SpA

UNCFF: OTCM (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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UniCredit Earnings: Resilience in NII Should Continue but Pressure Coming From Higher Credit Costs

Johann Scholtz

Nov 6, 2024

No-moat UniCredit reported a net profit of EUR 2.5 billion for the third quarter of 2024, 8% higher than a year ago and 10% higher than the company compiled consensus estimate. Net profit declined by 6% compared with the second quarter of 2024, primarily because of higher loan-loss provisions. Notably, net interest income (nearly 60% of revenue) held up better than we and consensus expected.

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UniCredit SpA

UniCredit Earnings: Resilience in NII Should Continue but Pressure Coming From Higher Credit Costs

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