...February 14, 2025 MADRID (S&P Global Ratings) Feb. 14, 2025--UniCredit is entering its new strategic phase on strong footing, said S&P Global Ratings today. The bank has successfully completed Its UniCredit Unlock 2021-2024 strategic plan, surpassing the goals that it laid out three years ago. It delivered stellar financial results in 2024 (return on tangible equity [RoTE] of 17.7% and cost-to-income ratio of 37.9%), while preserving a solid capital position (a common equity tier 1 [CET1] ratio of 15.9%), strong asset quality (nonperforming exposures account for 2.6% of total outstanding debt), 1.7 billion of overlay provisions, and a fairly liquid balance sheet. UniCredit has also carried out internal restructuring during the past three years with the aim of improving the way the group operates, refocusing toward clients, redefining processes, reducing complexity, and further aligning the operations of its various banking subsidiaries. As a result, in our view, the bank should be in a...
