OREANDA-NEWS. The price of shares of UniCredit on March, 11 increased by 6.2 % to EUR6.42. The bank recovered the 10th rank as most capitalized bank in Europe (4 ranks gained in just one day).

The first reaction was very positive as analysts welcomed the clean-up of the balance sheet and sound capital ratios as well as ambitious but achievable financial targets.

On March 11 UniCredit has presented its strategic plan for 2013-18, 4Q2013 and FY13 results. According to the plan, the Group 's net profit in 2014 is expected to reach 2 billion euros, and in 2018 - 6.6 billion euros. UniCredit plans EUR4.5 BN INVESTMENTS TO SUPPORT REVENUES and ADDITIONAL COST SAVINGS OF EUR1.3 BN. In addition, the Group has taken a decision to write off €9.3 billion of goodwill and to form additional loan loss provisions.