Unicredit, Padoan at the meeting: “Achieved incredible results in 2022”
“In the last year, thanks to our strategic plan, we have achieved results never seen before. Just this week the European Central Bank (ECB) approved the repurchase of our shares. This is a further sign of the good governance of this Bank, especially in a critical and turbulent moment for the financial sector”. Thus the president of UniCredit Pier Carlo Padoan introduced the assembly of the credit institution. presented 68.88% of the share capital. The main shareholders, with shares exceeding 3%, remain GBlackrock group, Parvus Asset Management Europe Limited and the Allianz group.
Padoan then wanted to thank Orcel and his team. “The evolution of UniCredit – he said – has been very rapid and has had a strong impact on all our stakeholders. Today ours is a better Bank, which contributes every day to the growth of the communities in which it operates. When Andrea and the top management have launched the strategic plan UniCredit Unlocked, the world was still grappling with the social and economic consequences of the pandemic. Twelve months later, our transformation process was challenged by even greater difficulties: the war in Ukraine, geopolitical tensions and slowing economic growth. Furthermore, in recent weeks we have seen the fragility of some areas of our sector emerge”.
“We have beaten all expectations – concluded Padoan – and the direction in which we want to go is clear. The buyback of our shares demonstrates the strength of our business model. AWe achieved the best results of the decade and seven consecutive quarters of growth. We’re not only improving our metrics, but we’re overhauling how we generate and distribute earnings to fuel growth and success. But our vision of UniCredit is not limited to financial results. In our Bank we reflect on the role that financial institutions should have in society. I hope we agree that they can and should act as an engine of change and progress. The goal we have set ourselves with the transformation of UniCredit is exactly this: to build a bank capable of creating value for all its stakeholders. Today we are a completely different organization than we were – financially, operationally and culturally.”
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