Tag: UniCredit

UniCredit Flags up to $8 Billion in Losses on Russia, Prudent on Buyback

March 10, 2022
Business & EconomyCompanieseconomic policieseconomyEuropeMarketsRussia-Ukraine WarRussianUniCreditWorld
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MILAN—Italy’s second-biggest bank UniCredit said a full write-off of its Russian business, including cross-border exposure, would cost around 7.4 billion euros ($8.1 billion), leaving its capital distribution plans hanging by a thread. UniCredit, which is one of Europe’s banks most exposed to Russia, said it would still be able to pay proposed cash dividends for…

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UniCredit Shares Open Down 8 Percent on Ukraine Crisis

February 24, 2022
bankBusiness & EconomyCompaniescrisisEuropeItalyMarketsRussia-Ukraine WarSharesstocksUkraineUniCreditWorld
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MILAN—Shares in UniCredit, whose Russian arm is one of the largest lenders in the country, fell as much as 8 percent on Thursday, before triggering an automatic trading suspension, hit by the escalation of the Ukraine crisis. Russian forces fired missiles at several cities in Ukraine and landed troops on its coast on Thursday. By…

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UniCredit Reaches Deal With Unions on Job Cuts in Italy

January 27, 2022
Business & EconomyCompaniescutsdealeconomyEuropeItalyjobUniCreditunionsWorld
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MILAN—Italian lender UniCredit has signed an agreement with unions for 1,200 voluntary job cuts to be partly offset by 725 new hires, the country’s biggest banking union said on Thursday. The accord follows a new three-year plan to the end of 2024 presented on Dec. 9 by Chief Executive Andrea Orcel, who had taken over…

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