UniCredit 4Q Net Loss Widened as Revenue Rose

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 [e-mail]

(END) Dow Jones Newswires

January 28, 2022 01:44 ET (06:44 GMT)

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