UniCredit raises profit, distribution outlook after solid quarter

UniCredit raised its profit forecast for 2024, setting a target of over €9 billion, and announced plans to pay out 50% of its net income to investors from 2025, up from the previous 40%.

In the third quarter, the bank exceeded profit expectations, reporting €2.51 billion compared to the forecasted €2.27 billion, thanks to robust net interest income.

CEO Andrea Orcel highlighted UniCredit's strategic investment in Germany’s Commerzbank, which may lead to a full merger. Additionally, UniCredit plans to continue its strong results through 2026, emphasizing share buybacks as a favored method of shareholder returns.

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