UniCredit posted net sales of 6.3 billion euros in Q1 2024, up 10.9% quarter-on-quarter and 7.5% year-on-year. This performance was underpinned by net interest income of 3.6 billion euros, 2.1 billion euros in commissions and loan loss provisions of 0.1 billion euros.

Net operating income came to 3.6 billion euros and net income was 2.6 billion euros, up 24% year-on-year.

Net income guidance for fiscal 2024 has improved to over 8.5 billion euros. The Group says it is on track to achieve medium-term targets of RoTE above 15%, solid EPS.

' We started the year on an extremely solid footing with net income of 2.6 billion euros, up 24% on the previous year, with a resounding pace in all key lines and a RoTE of 19.5%. This was underpinned by a much-improved environment for fees and assets under management' said Andrea Orcel, UniCredit's Chief Executive Officer.

Copyright (c) 2024 CercleFinance.com. All rights reserved.