OREANDA-NEWS. UniCredit's strong resilience confirmed after the thorough and extensive Comprehensive Assessment carried out by ECB in cooperation with EBA and Bank of Italy.

Overall results of the exercise confirmed the solid capital position of UniCredit, exceeding significantly all the thresholds set out in the Comprehensive Assessment CET1 ratio 2016 stands at 7.8% including all capital enhancement actions taken in 1H14.

Federico Ghizzoni, CEO of UniCredit commented: "In spite of the conservative approach of ECB and EBA in the Comprehensive Assessment, on top of the current negative macroeconomic environment, the results of the exercise confirm UniCredit's strong capital position, with 6.8% CET1 ratio under the adverse scenario. This ratio increases to 7.8% including the capital enhancing measures we have undertaken in 1H14 as well as the retained earnings of the period, jointly amounting to almost 100 bps. The impact on our capital ratios of the Comprehensive Assessment is only 298bps, making UniCredit one of the most resilient banks in Europe. In particular, the impact of the AQR on CET1 ratio is very limited (19bps), confirming the prudential approach towards classification and provisioning. Considering the positive results of Comprehensive Assessment, UniCredit confirms its net profit target for 2014 and its focus on lending to households and corporates in Italy and across Europe".