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UniCredit lifts profit guidance, leaving behind the 'drag' of its Banco BPM bid - TL;DR CNBC

UniCredit lifts profit guidance, leaving behind the 'drag' of its Banco BPM bid

Publishing timestamp: 2025-07-23 06:10:06


Summary

UniCredit posted a sharp increase in second-quarter profit and raised its full-year guidance after withdrawing its bid to acquire Banco BPM. The bank's net profit rose 25% year-on-year to 3.3 billion euros. Despite the profit uptick, net revenues dipped 4.7% to 6 billion euros. UniCredit CEO cited the consolidation of its share stake in Commerzbank as a reason for the revenue decrease. The bank now expects full-year net profit to reach 10.5 billion euros and shareholder distributions to hit 9.5 billion euros. The withdrawal of the Banco BPM bid was influenced by the Italian government's "golden power" rules. UniCredit CEO emphasized the importance of creating value and strengthening the bank, rather than focusing solely on M&A. European Union has been scrutinizing government interference in banking mergers. UniCredit is now supporting the success of Commerzbank, despite facing opposition from the German government.


Sentiment: NEUTRAL

Tickers: CBK-DEUCG-ITBAMI-IT

Keywords: unicredit spabusiness newsearningsbankscommerzbank agbanco bpm spabreaking news: europe

Source: https://www.cnbc.com/2025/07/23/unicredit-lifts-profit-guidance-leaving-banco-bpm-bid-behind.html


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