Italian UniCredit SpA, lender's 2025yearly in the first three months of ’ %It raised its financial expectations for this year after it announced an unexpectedly high net profit increase of 8.3’ to €2.8 billion.
Net income, mainly due to the strong growth in investment and financing fees, %With the effect of the increase of 2.3 billion Euro’ya with an increase of 8.2 %An increase of 2.8 to 6. billion Euro’. This is on a quarterly basis. %It offset the decline in net interest income, which declined by 4.8 to 3.5 billion Euro’.
UniCredit Chief Executive Officer Andrea Orcel said in a statement that “UniCredit has released an outstanding first-quarter results, leaving all KPI’s behind and expanding the positive gap between us and the likes of ”. We achieved the best quarterly results in “UniCredit history and the 17th quarter of consecutive profitable growth.”
Based on better-than-expected quarterly results, the bank has raised its expectations for fiscal year 2025 to “ with a possible rise. They expect net profit for the whole year to rise above €9.3 billion ’ and net income to be around €23 billion.
The Italian bank plans to develop its portfolio across Europe and is pursuing interesting possibilities as long as it benefits all stakeholders.
According to Bloomberg’, UniCredit is set to begin talks with Italian government officials to clarify conditions for its bid to buy Banco BPM SpA’, after the bank recently obtained permission from ECB’ to take direct control of its Italian rival.
Over the past three months, UniCredit has completed the acquisition of Aion Bank and Vodeno’, both offering digital financial services. UniCredit also owns a stake in the German Commerzbank’. .9Also obtained ECB’'s approval to remove ’a; This is seen by many as a potential takeover attempt.
According to a press release released on Friday, UniCredit also received the green light from ECB’ to realize the second tranche of the 2024 share buyback program, a maximum of €3.6 billion.
