Milan, 8 November 2018: on 7 November 2018, the Board of Directors of UniCredit S.p.A. approved the 3Q18 and 9M18 Group’s consolidated financial accounts as of 30 September 2018.

Jean Pierre Mustier, Chief Executive Officer of UniCredit S.p.A., commenting on the 3Q18 and 9M18 Group results:

“UniCredit has delivered strong underlying Q3 results and I am proud of the performance of our teams in an increasingly challenging macro-economic environment. Group Core net operating profit in the third quarter was 1.8 billion Euro, up 21.9 per cent year on year, while adjusted Group Core RoTE stands at 10.4 per cent for the first nine months.

During the quarter we took decisive actions related to non-recurring events; including an 846 million Euro impairment of our stake in Yapi and additional provisions relating to the upcoming settlement of alleged US sanctions violations. We are also implementing a number of measures to protect our capital position, including specific asset disposals such as real estate, and around 35 per cent reduction in the sensitivity of our CET1 ratio to BTP spreads.

We confirm our FY19 net profit target of 4.7 billion Euro and a RoTE of above 9 per cent, with Group Core RoTE above 10 per cent. The Group will continue to maintain a strong MDA buffer of 200-250 bps, equal to a fully loaded FY19 CET1 ratio of 12.0-12.5 per cent.

As a team we continue to focus on executing Transform 2019, which remains well ahead of plan, and will keep working hard to confirm UniCredit as a pan-European winner.”

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