Banks Unicredit exceeds expectations once again
The major Italian bank Unicredit recently secured a little more than a fifth of Commerzbank. It is now presenting its figures for the third quarter.
06.11.2024, 08:33
SDA
Unicredit, the major Italian bank vying for Commerzbank, has once again exceeded expectations in the third quarter. In addition, Unicredit CEO Andrea Orcel once again raised the forecasts for the current year. The HVB parent company, which is listed on the EuroStoxx 50, announced in Milan that its net profit had risen by a good eight percent year-on-year to 2.5 billion euros in the three months to the end of September. The bank thus performed significantly better than experts surveyed by Bloomberg had expected.
Orcel is now aiming for a profit of more than nine billion euros in the current year. He also wants to exceed this figure in the next two years. This comes as no surprise to analysts. The increased earnings forecast for the current year is also in line with experts' expectations. In the third quarter, earnings rose by around three percent to 6.1 billion euros compared to the same period last year.
Unicredit had secured a little more than a fifth of Commerzbank in recent months and intends to take it over. Unicredit is valued at around 70 billion euros on the capital market after years of soaring share prices; Commerzbank is valued at just under 20 billion euros.
