报告：裕信在削减成本方面引领银行业

Core Viewpoint - Keefe, Bruyette & Woods highlights that Unicredit is the only bank that has articulated a sufficiently ambitious plan to reduce absolute costs [1][2] Group 1: Cost Reduction Strategy - The analysts noted that due to market fears regarding AI threatening bank revenues, the revaluation process of the banking sector has stalled [1][2] - They emphasized that there is a crucial cost perspective, with discussions in bank earnings calls primarily focusing on improving cost-to-income ratios [1][2] - Unicredit stands out as the most ambitious bank in deploying technology, including AI, to significantly cut costs compared to other banks that mainly discuss "positive jaws" [1][2] Group 2: Financial Impact - Unicredit plans to reduce its nominal costs by 4%, which translates to an approximate real cost reduction of 13% [1][2] - Following this announcement, the stock price of Unicredit increased by 1.1%, reaching €72.35 [1][2]