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How are things going at Unicredit? Excellently – investors and financial analysts say in chorus – fascinated by the growing share buybacks that have pushed prices to a record 20 euros. Strengthened by excess capital, partly inherited from the previous management, and a profitability “fuelled” by the rise in interest rates, UniCredit has become an international case history: the only Italian bank mentioned by The Banker for value creation in the 2022.
If the accounts improve, the set-up…