INSANE: Together with proposed dividend, Unicredit will distribute €5.25bn to shareholders. They in turn back increase in CEO salary plus bonus to €9.7m.
For a bank with a market cap of €30bn.
With bns of unreconized bond losses.
In a banking crisis.
@ecb: are you awake?
RT @ReutersBiz: UniCredit gets ECB approval for 3.34 bln euro share buyback https://www.reuters.com/business/finance/unicredit-gets-ecb-approval-334-bln-euro-share-buyback-2023-03-28/?taid=64232099dc8e300001a9febf&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter
🐦🔗: https://n.respublicae.eu/lugaricano/status/1640801715514658816
The explanation for this type of behavior was given by @MarkusEconomist: "Being weak is your strenth." By being weak, a bank avoids losses being push on it- on the contrary , it ensures it is bailed out. Someone in the ECB should read this lecture https://www.bancaditalia.it/pubblicazioni/lezioni-baffi/pblecture-12/index.html?com.dotmarketing.htmlpage.language=1
🐦🔗: https://n.respublicae.eu/lugaricano/status/1640804840837373952
Dear Central banks, stop fulfilling your mandate and please subsidize our free-riding.
Thanks! Best wishes,
Unicredit
PS. Financial dominance? What is that?
https://www.research.unicredit.eu/DocsKey/economics_docs_2023_184806.ashx?EXT=pdf&KEY=C814QI31EjqIm_1zIJDBJJtmvAqN5jK-hs8uK0U6bMI=&T=1
🐦🔗: https://n.respublicae.eu/lugaricano/status/1640846395115732992