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UniCredit raises investor reward goal after profit tops forecast
  + stars: | 2024-05-07 | by ( ) www.cnbc.com   time to read: +1 min
The logo of Italian international banking group UniCredit stands on the facade of the group headquarters, located in the Porta Nuova district, as seen from the viewpoint of Palazzo Lombardia on September 29, 2023 in Milan, Italy. UniCredit raised on Tuesday its investor reward guidance for the year, after posting a much higher net income than expected and further boosting capital levels. Italy's second biggest bank said net profit for the January-March period was 2.6 billion euros ($2.8 billion), above the average of 2.13 billion forecast in a company-compiled analyst consensus. In the full year, net income is expected to be above 8.5 billion euros, it said, having previously guided for a 2024 net profit "broadly in line" with a 2023 result of 8.6 billion net of a tax asset writeup. UniCredit said it was raising its distribution guidance for 2024 to stand in line with 2023, when it paid out net profit to shareholders in full.
Persons: UniCredit, Andrea Orcel Organizations: UBS Locations: Porta Nuova, Lombardia, Milan, Italy, UniCredit
UniCredit beats third-quarter profit estimates, keeps 2023 outlook
  + stars: | 2023-10-24 | by ( ) www.cnbc.com   time to read: +1 min
The logo of Italian international banking group UniCredit stands on the facade of the group headquarters, located in the Porta Nuova district, as seen from the viewpoint of Palazzo Lombardia on September 29, 2023 in Milan, Italy. Italy's UniCredit on Tuesday beat third-quarter profit forecasts as higher rates boosted income, but kept its full-year profit goal, saying it needed time to decide how to best use this year's "exceptional" growth inearnings. Shares rose more than 2% in early trading. Income from the gap in lending and deposit rates, on which Italy in August slapped a surprise one-off tax, rose 45% year-on-year. After spooking investors in Italian banks with the extraordinary levy, Italy backtracked, giving lenders the option to set aside money as reserves instead of paying it.
Persons: Italy's UniCredit Organizations: Italy Locations: Porta Nuova, Lombardia, Milan, Italy
A Fashion Designer’s Classic Milanese Aperitivo
  + stars: | 2023-06-15 | by ( Laura May Todd | ) www.nytimes.com   time to read: +1 min
In Milan, there’s one unofficial but very important entertaining rule: Never throw a party on a Saturday night. Monday through Friday, the city is brimming with creative people — the quiet engines running the design and fashion industries — but, when the weekend rolls around, they tend to leave for the nearby Swiss Alps or the Mediterranean coast. Weekdays are when the Milanese gather and the aperitivo, a postwork, pre-dinner cocktail hour, defines the city’s social life. “The Milanese are very busy,” says the fashion designer Damir Doma, 42, a native of Croatia who was raised in Germany and has been living in the northern Italian city since 2016. “Aperitivo brings everyone together for a short moment to have a drink and a chat.”But for Doma, an aperitivo can also be a celebration.
Persons: there’s, , , Damir Doma, “ Aperitivo, Stephanie Barth Organizations: Milanese, Porta Nuova Locations: Milan, Swiss, Croatia, Germany, Italian, Porta
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