RTTNews | Jan 28, 2022 01:44AM EST

01:43 Friday, January 28, 2022 (RTTNews.com) - Italian lender UniCredit SpA (UCG, UNCFF.PK) reported that its fourth quarter net loss attributable to the group widened to 1.44 billion euros from 1.18 billion euros in the previous year.

Underlying net profit was 0.8 billion euros in the fourth quarter of 2021, up 0.6 billion euros year-over-year.

Total revenues for the fourth-quarter were 4.4 billion euros, up 4.7 percent from the prior year, mainly driven by strong fees.

The company noted that its proposal for an ordinary distribution of 3.75 billion euros, with a cash dividend of around 1.17 billion euros and share buyback of around 2.58 billion euros, will be submitted to the AGM on the 8th of April.

In a separate press release, UniCredit and Allianz said that they have signed a multi-country Framework Agreement, which covers UniCredit's footprint in Italy, Germany, Central and Eastern Europe.

The agreement encompasses joint investments, including training and pre-marketing. It will also pave the way for a cooperation between the two groups in the insure-banking business, allowing UniCredit to offer its banking products to customers on Allianz's open platform in Germany, Italy and other jurisdictions.

As part of the renewed partnership, on February 10, 2022, CreditRas Vita and CreditRas Assicurazioni will be rebranded as UniCredit Allianz Vita and UniCredit Allianz Assicurazioni, respectively.

Read the original article on RTTNews ( https://www.rttnews.com/3258149/unicredit-q4-loss-widens-signs-framework-agreement-with-allianz.aspx)

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