Key Facts
• July 23: UniCredit announced Q2 profits far exceeded expectations.
• Q2 net profit: €2.9 billion (excluding one-offs), €3.3 billion (including one-offs).
• Analyst consensus forecast: €2.5 billion; prior year Q2 profit: €2.7 billion.
• Full-year net profit forecast raised to €10.5 billion from €9.3 billion.
• 2025-2027: At least €30 billion to be returned to shareholders.
• Shareholder returns: At least 50% in cash dividends, remainder via share buybacks.
• July 22: UniCredit withdrew acquisition proposal for Banco BPM, citing government intervention.
Summary
UniCredit, an Italian bank, reported significantly higher-than-expected profits for Q2 2025, with net earnings reaching €2.9 billion excluding one-offs and €3.3 billion including them. This surpassed the €2.5 billion analyst consensus and the €2.7 billion recorded in the same period last year. The bank also raised its full-year net profit forecast to €10.5 billion, up from the previous €9.3 billion estimate. Additionally, UniCredit plans to return at least €30 billion to shareholders between 2025 and 2027, with at least half distributed as cash dividends and the rest potentially through share buybacks. On July 22, the bank withdrew its acquisition proposal for Banco BPM, attributing the decision to government intervention.
