Unicredit fails to make a price on the stock market at the start.
The stock, after the results above the estimates, marks a theoretical + 6.5%.
Unicredit closes the first half with a profit of 2.28 billion, "the best performance of the last 10 years, driven by growing profitability, solid organic generation of capital and reduction of the cost base despite the impact of inflation" comments the CEO Andrea Orcel.
The result for the second quarter is 2.01 billion, well above the consensus of analysts which estimated 996 million.
The results include Russia but the country's exposure was reduced further, by around 2.7 billion.
"Our CET1 ratio further strengthened to 15.73 per cent, reflecting the excellent asset quality, with a cost of risk of only 10 basis points, excluding Russia", adds Orcel.
Meanwhile, the board of directors has called the meeting to authorize the second Tranche of the 1 billion Buy-Back Program as of September 14th.
