(ANSA) - MILAN, JUL 27 - Unicredit closes the first half with a profit of 2.28 billion, "the best performance in 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 CEO AndreaOrcel.
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 exposure in the country was further reduced, by approximately 2.7 billion.
"Our CET1 ratio further strengthened to 15.73 per cent, reflecting the excellent asset quality, with a risk cost of just 10 basis points, excluding Russia," adds Orcel.
In the meantime, the board of directors has called the assembly to authorize the second Tranche of the 1 billion buy-back program as of September 14th.
(HANDLE).