State guarantees saved UniCredit €8bn in RWAs through 2020

Loans issued with the backing of European governments saved UniCredit just shy of €8 billion ($9.7 billion) of risk-weighted assets (RWAs) through 2020. Over the last three months of the year alone, the bank lopped €2.2 billion from total RWAs thanks to these.

UniCredit had €20.8 billion of outstanding loans under state guarantees, the majority of them backed by the Italian government, as of end-December. This was up from €14.2 billion in Q3 and €7 billion in Q2. On average, the guarantees

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