Unicredit, agree on more than 3,200 redundancies and 700 new hires – Milano Finanza

Unicredit and the unions have reached agreement on the 3,240 redundancies in the strategic plan of the group. This was announced this morning the First CISL national secretary, Pierluigi Ledda. Given the current difficulties in the sector, he said, “the agreement is absolutely positive, both as regards the conditions of access voluntary exodus of staff, both on the side of the definition of the company bonus and globally is greater than last year” .

in the agreement signed in the night and that manages the second phase of the strategic plan 2014-2018 has been confirmed the voluntary nature of participation in the industry solidarity fund for 2,700 employees and their commitment to finding solutions to additional 540 positions, including 470 executives, following the revision of the strategic plan approved last November 11. In the coming days will begin negotiations to manage the redundancy of 470 executives.

Employees Unicredit that will request for termination of service for access to the fund will be paid an incentive and guaranteed the maintenance of conditions reduced the staff, the health care fund, the company’s contribution to supplementary pensions and life insurance in the event of premature death. E ‘planned, in detail, even a positive turn over with the stabilization of 450 apprentices and 700 new hires, to be implemented gradually in relation to early retirement materialized.

have been defined, then the delivery of the company bonus criteria, cash or welfare account, and the assignment of a tablet, to facilitate the dissemination of digital culture among employees. Finally there is the possibility to voluntarily engage employees in new business in the segment Immediately House, the company’s real estate brokerage group.

In Milan the title Unicredit concert halls with the other banks. Now marks a + 2.23% to EUR 3,302 even in the wake of the advances MF that the non-binding offers of big US Apollo and Highbridge for the dossier Unicredit Leasing, have not gone unnoticed on the top floors of Gae Aulenti Piazza bank .

According to qualified sources quoted by MF, the information concerning the possible operation of the controlled exploitation it would in fact ended on the table of the competent internal committee, one of the many committees of Unicredit that are coming together these days in view of the institution’s Board of Directors, convened for Tuesday, February 9 for the approval of the accounts of 2015.

any process of divestment of leasing, the market leader with a share of the assets’ 8% and 23 billion disbursed, however, will still take several months, as well as the approval of the Bank of Italy; it is therefore plausible that could materialize by the summer.

“The leasing business has been regarded as part of the non-core activities in the last business plan of Unicredit , and we believe that the possible sale will have a potential positive impact impact on capital base through the deconsolidation of assets weighted for risk, rwa “explain the Imi Bank analysts reiterated hold rating on the action and the target price to 6.4 euro.

Who has changed his mind on Unicredit is that Kepler Cheuvreux raised its rating from hold to buy. “The bank is looking to accelerate its cost-cutting program to offset stagnant sales in a difficult market and optimize the mix of business to improve its capital ratios,” the statement said of the investment bank.

His CET1 10.8% fully loaded is not the “best in class” and hinders growth. However, it is above the target of 9.75% Srep and Kepler Cheuvreux analysts expect him to be above 11% at the end of this year, without giving additional activities.

The experts nevertheless cut its EPS estimates adjusted 2015-2018 Unicredit 12% and the target price from 6.3 to 4.8 euro, even for the higher cost of equity for all ‘ 11.5%. Now expect a net profit of EUR 4 billion in 2018 (1.4 billion in 2015) with a rote 8%, below the target of 5.3 billion of the bank (11%).

However, “we update a buy rating as they consider excessive the current discount of 0.4 times the tangible net worth,” explain to the investment bank. “The management’s ability to successfully execute the business plan is essential to restore confidence among investors and avoid a recapitalization. And the generation of profits will drive the improvement of the capital towards the target of a CET1 11.5% in 2018 “.