UniCredit reports bigger 4Q loss, but posts higher revenue


By Cristina Roca

UniCredit SpA reported a bigger loss in the fourth quarter of 2021, but posted higher-than-expected revenue.

The bank, Italy’s second-largest by assets, on Friday reported a net loss of 1.44 billion euros ($1.60 billion), from a EUR1.18 billion loss a year earlier and compared with an expected EUR1.32 billion loss, according to a company-provided median consensus estimate.

Quarterly revenue rose 4.7% to EUR4.44 billion, ahead of analysts’ views of EUR4.20 billion, according to the same consensus.

For 2021, UniCredit posted revenue of EUR17.95 billion, against guidance of EUR17.5 billion.

Net interest income–the difference between what lenders earn from loans and pay for deposits, a key metric for retail banks–rose 6.9% in the fourth quarter.

The company will propose a cash dividend of about EUR1.17 billion and share buyback of about EUR2.58 billion at its shareholder meeting on April 8.

Write to Cristina Roca at cristina.roca@wsj.com

This article was originally published by Marketwatch.com. Read the original article here.

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