Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
UniCredit bank
Stock Market

Italian bank UniCredit completed the procedure of share buyback

20.02.2023
2 min read

UniCredit bought its own shares for the amount of 1 billion euros

UniCredit Bank, which is the second largest bank in Italy, carried out a buyback of shares worth 1 billion euros. Previously, a similar procedure was carried out last year.
UniCredit received permission from the supervisory authorities to carry out the buyback. At that time, the state of affairs of the bank was evaluated by the European Central Bank. The regulator concluded that UniCredit’s reserves allow it to release the necessary amount of funds for the purchase of the securities, and the capital reduction will not affect the business processes. The implementation of the buyback procedure without a thorough assessment can not be approved, as the EU economy has a serious threat of recession. However, the approval was received back in September, and since then the situation has deteriorated, so the Central Bank has increased monitoring of payments and payment operations of UniCredit, to analyze all the risks.
The share buyback procedure amounted to 4.3% of the bank’s total capital. Its goal is to reduce the number of securities, while profit per share will grow. The first time the buyback was conducted at the beginning of last year. At that time the buyback amounted to 7.4% of the bank’s capital.UniCreditEarlier the UniCredit management was considering the takeover of Monte dei Paschi di Siena. Such a decision would have allowed increasing the share of business in the Italian market. However, the CEO rejected the deal and instead resorted to a capital allocation that would help boost the share price.
In Italy, UniCredit is second in size only to the Intesa Sanpaolo banking group. It also has branches in Germany, Austria, and other European countries. In 2011, UniCredit was included in the rating of systemically important banks in the world market.
The bank has been operating since 1998 when one group was formed by merging several companies. By 2000, a number of more Italian banks and one Polish bank had joined the structure, and 5 years later, a business from Germany. Then the business entered the market of Central and Eastern Europe, however, in some countries after the crisis it had to give up doing business.
Investors of UniCredit are various companies from the US, Norway, and other countries. Subsidiaries and representative offices of the bank have more than 16 million customers and a total network of 3,490 offices in 13 countries. UniCredit’s assets are more than 932 billion euros.
Commercial banking, operating in Italy, generates the most revenue, 37% of the total. In second place are the corporate and investment banking divisions, which account for 20% of total revenues.

Tags: Stock Market
0
Previous Post Food security: how Singapore intends to reduce its dependence on imports Next Post Central banks of France and Luxembourg tested CBDC from the European regulator

You Might Also Like

Finance in Spain
Stock Market
Spanish financials: securities market characteristics
02.07.2020
emerging market bonds-2
Stock Market
Emerging market bonds offer good returns
27.05.2024
Perpetual bonds
Stock Market
Perpetual bonds from the Russian Post: why do you need to issue bonds?
09.03.2021
Vitol
Stock Market
Vitol sells part of its stake in Viva Energy
05.02.2024
Toyota shares
Stock Market
Japanese conglomerates sell Toyota shares
16.09.2024
law on categorization of investors
Stock Market
Law on categorization of investors: review of changes in the document
18.04.2021

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics