UniCredit CEO Pierre Mustier
said Tuesday that the Italian bank's Transform 2019 turnaround
plan was fully on track and announced another reduction in gross
non-performing loans of four billion euros.
"We confirm our initial key objectives," Mustier said.
The lender said it will pay shareholders 30% of its 2019
profits, up from the 20% previously planned.
UniCredit said that it has "signed binding agreements to
reduce its stake in FINO to below 20%, at a price when taking
into account the structure of the agreement".
The move is a key part of the bank's strategy to reduce its
exposure to non-performing loans (NPLs).
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