UniCredit communicated with the publication of the quarterly report referring to the second quarter of 2022 a further reduction of exposures linked to Russia, adding that it is committed to a progressive de-risking.
In particular, at the end of June 2022, the Unicredit group’s exposure to Russia was cut overall by approximately 2.7 billion, through proactive and disciplined actions, against Russia’s Risk Weighted Asset (RWA) down by approximately 2.7 billion.
UniCredit announced Group gross NPEs of € 13.9 bn, down 21.8 per cent Q / Q and down 35.3 per cent y / y, adding that the ratio of gross impaired loans and total gross loans of the Group amounted to 2.9 per cent in the second quarter of the year, down by 0.8 pp Q / Q and down by 1.8 pp y / y. Group net non-performing exposures stood at € 7.0 bn, down 17.7 per cent Q / Q and down 23.7 per cent y / y. The ratio of net non-performing loans to total net loans of the Group: 1.5 per cent, down by 0.3 pptrim / quarter and down by 0.6 pp y / y, with a hedging ratio (on non-performing exposures) equal to 50.0 per cent, down 2.4 pp Q / Q and down 7.7 pp y / y. Group gross non-performing loans: € 3.4 bn, down 30.0 per cent Q / Q and 52.9 per cent y / y, while Group gross unlikely to pay (‘UTP’) amounted to € 9.8 bn, down 20.3 per cent Q / Q and down 27.2 per cent y / y.