UniCredit reports strongest quarter ever
By Josh White
Date: Monday 12 May 2025
(Sharecast News) - UniCredit reported its strongest quarterly performance on record on Monday, posting first-quarter net profit of €2.8bn, driven by higher fees and trading income, lower provisions, and tight cost control.
The result exceeded analysts' expectations by 17% and prompted the Italian bank to upgrade its full-year 2025 guidance, forecasting profit above €9.3bn and revenue of €23.5bn.
Operating costs fell 1.3% on a like-for-like basis, and return on tangible equity reached 22%, with the CET1 capital ratio rising to 16.1%.
The bank, led by chief executive officer Andrea Orcel, said it remained open to selective acquisitions but emphasised that any deal must enhance its already strong standalone position.
Its bids for Banco BPM and Commerzbank had encountered political resistance in Italy and Germany respectively, while its stake in insurer Generali remained framed as a financial holding.
Orcel reaffirmed UniCredit's strategy of disciplined expansion and high shareholder returns, noting that the group's 17th consecutive profitable quarter reflected the success of past restructuring efforts.
UniCredit also announced a strategic partnership with Google Cloud to accelerate its digital transformation across core markets, including AI integration and infrastructure migration, further supporting long-term efficiency and innovation goals.
At 1112 CEST (1012 BST), shares in UniCredit were up 3.33% in Milan, at €55.56.
Reporting by Josh White for Sharecast.com.
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