Full Year 2020 UniCredit SpA Earnings Call Transcript
Good morning, ladies and gentlemen. Today's conference call will be hosted by UniCredit's CEO, Mr. Jean-Pierre Mustier; and CFO, Mr. Stefano Porro. (Operator Instructions) Today's conference call is being recorded.
At this time, I would like to hand the call over to Mr. Jean-Pierre Mustier. Sir, you may begin.
Thank you very much, and good morning, and welcome to the analyst call for fourth quarter '20 and full year '20 results. With the second wave of the COVID-19 pandemic affecting all the countries in which we operate, let me once again express our deepest sympathies for anyone impacted. As an organization, we will continue to do everything we can to protect the health and safety of colleagues and customers. UniCredit will continue to support its clients, the real economy and the communities in the countries where it is present.
For the full year '20, UniCredit delivered an underlying net profit of EUR 1.3 billion. This is an impressive performance given COVID-19 resulted in the worst downturn in the last 80 years and given the EUR 5
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