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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  UniCredit S.p.A.    UCG   IT0005239360


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UniCredit S p A : Bank of Italy calls for caution in review of dividend ban

11/20/2020 | 12:11pm EST

ROME, Nov 20 (Reuters) - The uncertainty fueled by a second COVID-19 wave calls for caution in the debate among European supervisors on whether to extend a recommendation that euro zone banks refrain from paying dividends, the Bank of Italy said on Friday.

Banks across Britain and the euro zone were prevented from distributing 2019 profits to shareholders during the first virus wave. Supervisors urged banks to preserve capital in the face of the emergency, in return easing regulation and flooding the system with funds lent at negative rates.

The recommendation has been extended until the end of year and banks expect the European Central Bank to give indications soon on how long the ban will last.

The decision is a crucial one for cheaply-valued European banks and their shareholders in a phase of earning compression and cloudy outlook on credit quality.

Speaking at a press briefing to present the Bank of Italy's twice-yearly Financial Stability Report, Deputy Governor Luigi Federico Signorini said supervisors were still discussing the matter and no indication could be provided on the final outcome.

However, he called for caution.

"We are going through a strong second wave of contagion across Europe. We hope it may be less severe than the first one, but uncertainty is high," Signorini said.

"This is why at the Bank of Italy we think it is necessary to exercise extreme caution and carefully consider the macroeconomic outlook," he added. (Reporting by Stefano Bernabei; writing by Andrea Mandala; editing by Valentina Za)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
INTESA SANPAOLO S.P.A. -0.79% 1.911 Delayed Quote.0.72%
UNICREDIT S.P.A. -1.26% 8.009 Delayed Quote.6.03%
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Sales 2020 17 211 M 20 906 M 20 906 M
Net income 2020 -1 972 M -2 395 M -2 395 M
Net Debt 2020 - - -
P/E ratio 2020 -9,47x
Yield 2020 1,45%
Capitalization 18 063 M 21 853 M 21 941 M
Capi. / Sales 2020 1,05x
Capi. / Sales 2021 1,03x
Nbr of Employees 83 621
Free-Float 89,6%
Duration : Period :
UniCredit S.p.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends UNICREDIT S.P.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 25
Average target price 9,12 €
Last Close Price 8,11 €
Spread / Highest target 35,7%
Spread / Average Target 12,5%
Spread / Lowest Target -26,0%
EPS Revisions
Managers and Directors
Jean-Pierre Mustier Group Chief Executive Officer & Executive Director
Cesare Bisoni Chairman
Pietro Carlo Padoan Chairman-Designate
Ranieri de Marchis Co-Chief Operating Officer
Carlo Vivaldi Co-Chief Operating Officer
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