UniCredit Reports Strong Third Quarter Earnings Growth
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UniCredit Reports Strong Third Quarter Earnings Growth

UniCredit S.p.A ( (UNCFF) ) has released its Q3 earnings. Here is a breakdown of the information UniCredit S.p.A presented to its investors.

UniCredit S.p.A, a leading pan-European financial institution, has reported record earnings for the third quarter and first nine months of 2024, marking its 15th consecutive quarter of profitable growth. The bank achieved a net profit of €2.5 billion in the third quarter and €7.7 billion over the nine months, signifying an 8% and 16% increase respectively compared to the previous year. This growth was supported by a 2.6% increase in net revenue, driven by robust fee income and stable net interest income, amidst cost reductions and a strong capital position with a CET1 ratio of 16.1%. The bank’s transformation strategy focusing on client-centric operations and cost efficiency has been pivotal in achieving these results. Looking ahead, UniCredit has increased its net profit guidance for 2024 to over €9 billion and plans to raise its cash dividend payout to 50% of net profit from 2025, reflecting its confidence in continued sustainable growth.

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