UniCredit posts record-breaking quarterly earnings as profits soar to an all-time high.
At a stellar start in 2025, Italian banking titan Unicredit's sights are set high on Germany'sCommerzbank. Following Commerzbank's announcement of its highest quarterly profit since 2011 last Friday, Unicredit dropped a bombshell of its own: a Q1 net profit of a whopping 2.8 billion euros, an all-time record for the Milan-based bank. Unicredit CEO, Andrea Orcel, is now confidently aiming to crush last year's profit of 9.3 billion euros, rather than merely matching it.
Much like Commerzbank, Unicredit managed to elevate its revenues in the first quarter, despite a drop in net interest income due to slumping interest rates. Remarkably, revenues soared by almost 3% year-on-year, reaching a grand total of 6.5 billion euros.
Sources:
- UniCredit posts record quarterly profit, boosted by restructuring - Reuters
- Commerzbank achieves highest profit since 2011 - Financial Times
Unicredit's Q1 net profit of 2.8 billion euros, an all-time record, suggests a determination to surpass last year's profit and not just match it, thereby indicating a significant focus on finance.
The surge in Unicredit's revenues to 6.5 billion euros, a 3% year-on-year increase despite a drop in net interest income, underscores the bank's strategic finance management.
