Beyond experts' greatest estimates, as well as the bank's own forecasts: Unicredit's 2023 financial results startle the market. Full-year profit increased by 54% to 8.6 billion, breaking the already optimistic 7.9 billion forecast by market operators and eclipsing the institute's own 7.25 billion target. The fourth-quarter net book result of €2.8 billion (19% more than the same period a year ago) topped the stock market's €1.2 billion projections. As if that weren't enough, CEO Andrea Orcel entices investors with coupons and buybacks. Dividends (3 billion) and share buybacks (5.6 billion) will account for the entire profit distribution. And that is not all. The introduction of the interim dividend for 2024 (approximately €1.3 billion, to be decided on October 23) will result in a total distribution of around €10 billion, with a 10% return. On the stock market, the stock skyrocketed, gaining more than 10%.
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