Delivering for our shareholders - Sustainable Distribution and Capital strength

During the year, we delivered on our commit­ment of a 2021 shareholder distribution of 3.75 bn.


Thanks to our strong financial performance in 2022 and the best year in over a decade, we have proposed a total capital distribution of 5.25bn1, with a 1.91bn cash dividend and 3.34bn share buyback – a 40% growth in distribution. Together with 2021 this already translates to almost 60% of our at least total 16bn capital distribution ambition for 2021-2024.

The distribution is more than comfortably funded by our superior organic capital gen­eration of 279 basis points, well ahead of the plan. Even pro forma for the distribution, our CET1 ratio will be 14.9%, 78 basis points higher versus prior year.

Throughout the year, UniCredit produced strong financial results while taking proac­tive actions during a macroeconomically challenging year to protect our ability to deliver sustainable and attractive distribu­tion to our shareholders while maintaining best-in-class capital strength.

For 2023 we are assuming a mild recession as our base case with UniCredit being well-positioned and ready to navigate and continue delivering excellence and growth under any scenario.

1. Pending Shareholder and supervisory approval