ROME (dpa-AFX) - UniCredit (UCG, UNCFF.PK) said the company is closely monitoring the developments in Russia, in full cooperation with regulators. The company noted that, in the extreme scenario, the impact on UniCredit's 2021 year end CET1 ratio from from Russian exposures would be around 200bps. The company said its strong capital position would allow it to absorb such impact without falling below 13% CET1.
UniCredit confirmed its 2021 proposed cash dividend of 1.2 billion euros, maintaining a 2021 CET1 ratio pro-forma above 13% even in the extreme scenario. The company also confirmed intention to execute the share buyback up to the previously agreed amount of 2.58 billion euros, subject to pro-forma 2021 year end CET1 remaining above 13.0%.
UniCredit's target CET1 capital ratio remains within the range of 12.5-13.0%.
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