Reported about 12 hours ago
Italy's UniCredit has raised its profit outlook for 2025 following a surprising quarterly profit increase, although it remains cautious about pursuing mergers and acquisitions without clear benefits. CEO Andrea Orcel emphasized that the bank will not engage in deals at any cost, particularly in light of challenges surrounding its proposed acquisition of Banco BPM and a potential takeover of Commerzbank. Despite the uncertainties, UniCredit's net profit is now expected to exceed 9.3 billion euros, aided by higher trading income and reduced costs. Additionally, the bank has announced a partnership with Google Cloud to modernize its digital infrastructure.
Source: YAHOO