UniCredit completed the third quarter significantly better than expected – Kommersant
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All key financial indicators of UniCredit in the third quarter turned out to be significantly better than analysts’ forecasts. As follows from reporting Italian banking group, its net profit for the quarter amounted to €2.32 billion, net interest income – €3.6 billion, and revenue – €5.97 billion. Analysts surveyed by the banking group itself, on average, expected that net The group’s profit will be €1.92 billion, net interest income will be €3.5 billion, and the company’s revenue will be €5.74 billion. Note that these figures increased compared to the same period last year by 35.9%, 45% and 24% respectively.
Against the backdrop of such successful reporting, the banking group raised its own forecast for net interest income for the entire 2023 – from €13.2 billion to €13.7 billion, and its forecast for revenue – from €21.5 billion to €22.2 billion. In addition, UniCredit announced that it will distribute €6.5 billion to shareholders next year.
In the third quarter, UniCredit’s Russian business received revenue of €250 million, which is 13.8% more than a year earlier. However, its net profit collapsed by 42%, to €156 million.
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