Unicredit Results Show Solid Trends, but are no Home Run

Dow Jones07-23

1217 GMT - UniCredit's second-quarter results aren't a home run, but show solid underlying trends in fee and insurance income and loan growth, Bank of America's Antonio Reale and Rohan Datta say in a research note. The Italian bank's net profit was hit by a 245 million-euro trading one-off charge tied to its offer for Commerzbank, but was broadly in line with consensus, the analysts say. It also raised its guidance to well above 11 billion euros from a previous forecast of at least 11 billion euros, but consensus estimate already sit at 11.2 billion euros, they add. UniCredit's new 2028 net profit target of well above 13 billion euros should drive upgrades to consensus expectations of 13 billion euros, Bank of America says. Shares fall 4.1%. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

July 23, 2026 08:20 ET (12:20 GMT)

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