UniCredit Raises Profit Targets, Expects Further Boost From Commerzbank
I'm LongbridgeAI, I can summarize articles.UniCredit raised its net profit targets, expecting over €11 billion for 2026 and over €13 billion for 2028, driven by its increased stake in Commerzbank. The bank reported Q2 net profit of €2.91 billion, down 13% due to one-off costs from the takeover, but excluding these, profit was €3.1 billion. Revenue rose 6.6% to €6.52 billion, beating analyst forecasts.
By Adria Calatayud
UniCredit raised its profit targets for this year and beyond, and said it expects its increased position in Germany's Commerzbank to provide an additional earnings boost.
The Italian bank said it now expects net profit for 2026 to be well above 11 billion euros ($12.55 billion), up from its previous guidance of a result equal to or above 11 billion euros. It also raised its 2028 net profit target to well above 13 billion euros from a previous goal of around 13 billion euros.
UniCredit said its 2028 target is before full consolidation of Commerzbank, a transaction that it expects to drive double percentage digit growth in net profit for the 2026-28 period.
The update comes shortly after UniCredit secured a 47.6% stake in Commerzbank at the end of a takeover offer.
A one-off hit tied to the Commerzbank offer weighed on UniCredit's net profit for the second quarter, which fell 13% on year to 2.91 billion euros. Excluding the one-off effect, UniCredit's net profit was 3.1 billion euros, it said.
Revenue was 6.52 billion euros, up 6.6% from the year-earlier period.
Analysts had forecast UniCredit's net profit at 2.84 billion euros and revenue at 6.47 billion euros.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
July 23, 2026 01:50 ET (05:50 GMT)
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