UniCredit Ends Q1 with a 7.9% Jump in Net Revenue

UniCredit has published its detailed financials for the first quarter of 2022 ended 31 March, showing net revenues of €4.7 billion, up 7.9% year on year.

Excluding the impact of Russia, the Group posted €1.2 billion net profit, resulting in healthy organic capital generation of 44 basis points, and cost/income ratio of 47.8 per cent.  

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Andrea Orcel, Chief Executive Officer of UniCredit S.p.A. commented: "UniCredit delivered another excellent quarter of high quality financial results across all our businesses, setting records across a number of key metrics, demonstrating the inherent value and commercial dynamism of our franchise and people.

The first months of 2022 have been marked by extreme geopolitical and macroeconomic uncertainty. Whilst challenges undoubtedly lie ahead for the global economy due to the war in Ukraine and its broader impact, UniCredit is entering this period with a resilient and profitable model, and prudent capital and existing provisions. This gives us confidence in our ability to execute on our 2022-24 Strategic Plan, and to continue supporting our communities, clients and the financial system during this turbulent period."