UniCredit Raises Profit Guidance as Control of Commerzbank Nears
By Michael Hennessey
UniCredit raised its annual profit targets and reported higher earnings for the third quarter, as it nears the end of a takeover battle to take control of Germany's Commerzbank.
The Italian bank said on Monday it now expects to report net profit of well above 11.5 billion euros, equivalent to $12.82 billion, pre-extraordinary charges for 2026, up from its previous forecast for well above 11.0 billion euros.
UniCredit still expects net profit to rise to well above 13 billion euros in 2028 and past 15 billion euros in 2030.
The company said net profit rose to 3.26 billion euros for the third quarter, up from 2.63 billion euros a year earlier.
Revenue increased 12% to 6.90 billion euros from 6.17 billion euros, as interest income and fees both climbed.
Analysts on average expected UniCredit to report net profit of 2.78 billion euros on revenue of 6.48 billion euros, according to a company-compiled consensus.
UniCredit more than doubled its interim dividend to 3.00 euros a share, up from 1.43 euros a year earlier.
The bank is nearing control of Commerzbank after it secured takeover approval from the European Central Bank last month. It expects to receive the remaining regulatory approvals for the deal this month.
Write to Michael Hennessey at michael.hennessey@wsj.com
(END) Dow Jones Newswires
November 09, 2026 01:51 ET (06:51 GMT)
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