On Thursday, September 12th, 2024, Commerzbank AG headquarters in the financial district of Frankfurt, Germany.
Emmanuelle Cremasi | Getty Images News | Getty Images
Italy’s second-largest lender UnicRedit on Tuesday recorded a fourth-quarter profit beat, raising shareholder returns, focusing on the bank’s M&A overtures.
According to LSEG-compliant consensus, net income attributable to the group was 196.9 billion euros ($2.03 billion) in the fourth quarter, compared to analyst forecasts of 18.03 billion euros ( ($2.03 billion).
Revenue reached 6 billion euros over the period, while analysts were expecting 5.898 billion euros.
Includes other quarter highlights.
Compared to 19.7% of the CET 1 capital ratio, a measure of bank solvency, the tangible stock return of 11.5% was 15.9% from 16.1% of the stretch in the past three months.
The lender, whose annual net income added 8.1% to 93.1 billion euros per year, pledged to strengthen shareholder returns in 2025, increasing its cash dividend payment guidance from 40% in 2024 to 50% of net profit. This year, the program covers over 17% of memorization performance this year, compared to 17.7% in 2024.
In a statement with the results, CEO Andrea Orcel said UnicRedit is moving to the next stage of its strategy, accelerate its growth, widen the gap with its competitors, close the valuation gap and solidify UnicRedit I hope that. Benchmarks for Europe’s future and banking. ”
UnicRedit has been at the epicenter of Italy’s early integration since late last year, following the stock of Germany’s Commerzbank and its surprising builds and subsequent growth, as well as the domestic Pierbanco BPM acquisition offer at the end of 202444. .
The German administration has denounced Unic Reddit’s “very aggressive, very opaque and unclear” Commerzbank. Rome is also planning to resist the domestic front and form a third Italian bank, Titan, along with Intesa Sapaolo and Unik Reddit. On February 2, complicating the Italian trading landscape, it announced a 4.1% stake build at the Italian top insurance company Generali Group, but emphasizes that “no strategic interest” motivates ventures .
Seriously, Italy operates under the laws of the so-called golden powers, and Rome is to interfere with or set conditions for the acquisition of foreign and domestic companies in key sectors such as defense, energy, communications and banking. It enables.
Market participants are looking at which of the Twin-Onded suits Unicredit commits or whether they can see both targets.
This fast news article has been updated.
