UNCRY - UniCredit S.p.A. (UNCRY) Q2 2024 Earnings Call Transcript
2024-07-24 19:17:10 ET
UniCredit S.p.A. (UNCRY)
Q2 2024 Results Conference Call
July 24, 2024 04:00 AM ET
Company Participants
Magda Palczynska - Head of Investor Relations
Andrea Orcel - Chief Executive Officer
Stefano Porro - Chief Financial Officer
Conference Call Participants
Andrea Filtri - Mediobanca
Ignacio Cerezo - UBS
Ignacio Ulargui - Paribas Exane
Chris Hallam - Goldman Sachs
Britta Schmidt - Autonomous Research
Delphine Lee - JPMorgan
Azzurra Guelfi - Citi
Pamela Zuluaga - Morgan Stanley
Marco Nicolai - Jefferies
Presentation
Operator
Good morning, ladies and gentlemen. Before I hand over to Magda Palczynska, Head of Investor Relations, a reminder that today's call is being recorded. Madam, you may begin.
Magda Palczynska
Good morning, and welcome to UniCredit's Second Quarter and First Half 2024 Results Conference Call. Andrea Orcel, our CEO, will take you through the results. This will be followed by a Q&A session with Andrea and Stefano Porro, our CFO. [Operator Instructions]. With that, I hand over to Andrea.
Andrea Orcel
Good morning, and thank you for joining us today. It is with great pleasure that we announce our second quarter and first half 2024 results. This mark the historic achievement for UniCredit in its journey to set a new benchmark for banking, 14 consecutive quarters of profitable growth, delivering a record quarter and a record first half. These results are a testament to the unwavering commitment of our team with disciplined execution of our long-term vision and strategy and our dedication to creating value for all our stakeholders over time.
The track record we have built in the last 3.5 years is undeniable. We are confident that our action will further propel our positive performance in the future, setting UniCredit to part as an attractive investment opportunity.
We have delivered consistently outstanding results across all KPIs: growth, profitability, efficiency and distributions outpacing our peers. These achievements are down to clarity of direction, disciplined execution and the proactive steps we take to prepare for the future. UniCredit has transformed into a blue-chip bank with value still to unlock, lots of it. One defined by both resiliency and profitable growth. Resiliency through the cycle, leveraging our lines of defense and maintaining a quality-driven approach.
Profitable growth through quality earnings and excellence in operational and capital efficiency all propelling our best-in-class distributions.
Our past is marked by transformation. Our present by superior sustainable performance. Our future by our continuing to unlock significant potential. This performance is down to our mindset. It is the essence of how we engage with our clients and how we do business.
This is the 14th consecutive quarter of quality growth, driven by our focus on profitable NII, increased fees and improved operational and capital efficiency, all leading to superior return on tangible equity and organic capital generation to support best-in-class distribution....
UniCredit S.p.A. (UNCRY) Q2 2024 Earnings Call Transcript