Unicredit's Dealmaking Plans in Focus

Dow Jones07-22

UniCredit is scheduled to report results for the second quarter on Thursday. Here is what you need to know.

REVENUE FORECAST: The Italian bank is expected to report second-quarter revenue of 6.47 billion euros ($7.37 billion), according to consensus estimates compiled by the lender. For the same period last year, UniCredit generated revenue of 6.13 billion euros.

NET PROFIT FORECAST: Analysts expect UniCredit to post a quarterly net profit of 2.84 billion euros, according to the same consensus. The bank made a net profit of 3.34 billion euros for last year's second quarter.

Shares in UniCredit climbed 29% during the second quarter, making up for losses in the first three months of the year. The stock rose nearly 17% since the start of the year through Tuesday's close.

WHAT TO WATCH

--COMMERZBANK: UniCredit said earlier this month it secured a 47.6% stake in Germany's Commerzbank after wrapping up a takeover offer during which it picked up an additional 17.6% that adds to its previous holding. Beyond the results, investors will be particularly focused on the situation with Commerzbank, analysts at Keefe, Bruyette & Woods wrote in a note to clients. UniCredit's current stake gives it "de-facto" control over the German bank and the market seems to be mispricing the opportunity this represents, analysts at Bank of America said.

--ITALY: While UniCredit's bid for Commerzbank was under way, Italian peer Intesa Sanpaolo made a $35 billion offer to buy smaller rival Banca Monte dei Paschi di Siena. Monte dei Paschi's board issued a cautious initial assessment of the Intesa offer, and said it was also considering a rival proposal to combine with Banco BPM. Some analysts have speculated that UniCredit could throw its hat in the ring for Monte dei Paschi or some of its assets.

--GUIDANCE: UniCredit nudged up its full-year guidance when it reported first-quarter results in May, projecting a net profit equal to or above 11 billion euros. KBW analysts expect UniCredit to reiterate its outlook, but Bank of America sees room for an upgrade to at least 11.5 billion euros.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

July 22, 2026 08:19 ET (12:19 GMT)

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Unicredit's Dealmaking Plans in Focus

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