UniCredit cut RWAs the most of EU systemic banks in Q1

The €10.8 billion cull helped improve the Italian bank’s CET1 ratio 52bp

An influx of state-backed loans and changes to how defaults are recognised under regulation contributed to a €10.8 billion ($13.1 billion) fall in UniCredit’s risk-weighted assets (RWAs) over the first quarter, by far the largest deduction recognised of the European systemic banks.

The cull netted the lender a 52-basis point boost to its Common Equity Tier 1 (CET1) ratio, which ended the quarter at 15.92%, among the highest of its peer global systemically important banks (G-Sibs).


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