Algebris CEO Sees UniCredit as Entry to European Recovery

The video discusses UniCredit's challenges due to the Italian recession and NPL issues. It highlights investment opportunities in UniCredit, suggesting a potential doubling of share price over two to three years. The video also covers the broader NPL problem in Italian banks, with a focus on solutions and future prospects, including capital raises and asset sales. The speaker emphasizes that the macroeconomic problem is not severe and outlines strategic investments in the NPL sector.

What is the main reason for UniCredit's undervaluation according to the speaker?

• Political instability in Europe

• The Italian recession and NPL issues

• High competition in the banking sector

• Lack of innovation in financial products

What is the expected time frame for UniCredit's share price to potentially double?

• 6 months

• 1 year

• 2 to 3 years

• 5 years

What percentage of the equity strategy is UniCredit expected to represent?

• 9 to 10%

• 7 to 8%

• 5 to 6%

• 3 to 4%

What is the estimated size of the non-performing loans problem in Italian banks?

• €100 billion

• €200 billion

• €350 billion

• €500 billion

What is the collateral value against the net NPLs according to the speaker?

• €100 billion

• €120 billion

• €150 billion

• €160 billion