UniCredit: raises guidance for FY 2024
(CercleFinance.com) - Net revenues came to E6.
3bn euros in Q2, up 6% y-o-y, with very strong growth in commissions (+10%) to E2.1bn, driven by all major categories.
The improvement was spread across most categories, and was particularly driven by investment (+21.1% y-o-y), advisory and financing (+8.5% y-o-y), as well as insurance and payment commissions.
RoTE stood at 19.8% and CET1 ratio at 23.6%, up 2.6 points and 2.3 points respectively on the previous year.
The Milan-based bank posted net income of E2.7bn in Q2, up 15.9% on the previous year.
Net sales guidance for fiscal 2024 is revised upwards to over 23 billion euros. Its NP target has been confirmed at over E8.5bn, while retaining additional flexibility to secure 2025-26, and confirming our confidence in a high sustainable RoTE of over 15% and strong EPS and DPS growth, the group says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
3bn euros in Q2, up 6% y-o-y, with very strong growth in commissions (+10%) to E2.1bn, driven by all major categories.
The improvement was spread across most categories, and was particularly driven by investment (+21.1% y-o-y), advisory and financing (+8.5% y-o-y), as well as insurance and payment commissions.
RoTE stood at 19.8% and CET1 ratio at 23.6%, up 2.6 points and 2.3 points respectively on the previous year.
The Milan-based bank posted net income of E2.7bn in Q2, up 15.9% on the previous year.
Net sales guidance for fiscal 2024 is revised upwards to over 23 billion euros. Its NP target has been confirmed at over E8.5bn, while retaining additional flexibility to secure 2025-26, and confirming our confidence in a high sustainable RoTE of over 15% and strong EPS and DPS growth, the group says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.