UniCredit: Turning a new page

UniCredit entered the Covid-19 crisis flush with capital. That money was earmarked for dividends and share buybacks. So far, it has gone on frontloading loan write-offs.

25-cover-960.png
Full Index

Just a few weeks before Covid-19 arrived in Europe, chief executive Jean Pierre Mustier had predicated UniCredit’s 2020-2023 plan on a new commitment to returning capital to shareholders. Dividend payouts were to rise and share buybacks were promised for the first time in 10 years.

The European Central Bank’s effective ban on dividends and buybacks in late March might therefore have brought a special frustration for Mustier and his efforts to boost UniCredit’s share price.

Thanks for your interest in Euromoney!
To unlock this article: