UniCredit bank announced on Monday that it aims to replicate its 2023 performance in 2024, despite economic challenges.
The bank reported a higher-than-anticipated profit for 2023 and plans to distribute all of it to its shareholders.
The net income for the last quarter was 2.8 billion euros, significantly surpassing the bank’s forecast of €1.2 billion ($1.3 billion).
UniCredit’s revenues exceeded projections, while the bank reported costs and loan loss provisions that were less than anticipated.
The bank plans to distribute €8.6 billion from its 2023 earnings to investors through share buybacks and dividends, which equal 100 per cent of its net profit.
Starting this year, UniCredit will implement a 90 per cent payout policy, with a slight increase in the cash portion.
