UniCredit bolsters capital ratio on Fineco sale
UniCredit strengthened its Common Equity Tier 1 (CET1) capital ratio in the three months to end-September, helped by the sale of its remaining stake in online brokerage Fineco.
The Italian lender’s CET1 ratio improved 53 basis points on the quarter to 12.6%, the highest level since Q1 2018. The sale of the second tranche of Fineco in July contributed 31bp to the overall increase. The sale of the first tranche closed in May.
Net profits for the quarter added a further 28bp. These gains were
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