(Alliance News) - The board of UniCredit Spa has approved its first-quarter results, highlighting a sharp increase in profitability with net profit reaching EUR3.22 billion, up 16% from EUR2.77 billion a year earlier.
During the period, total revenue stood at EUR6.87 billion, up 4.9% year-on-year from EUR6.56 billion, while net revenue reached EUR6.7 billion, an increase of 3.3%.
The revenue mix showed mixed dynamics, with net interest income falling to EUR3.6 billion, down 2.0% year-on-year, while fees and insurance income rose to EUR2.5 billion, up 7.8%, acting as one of the primary growth drivers.
Trading activity also made a positive contribution of EUR480 million, up 2.3% compared to the same period last year.
Operating costs fell to EUR2.3 billion, a 1.1% year-on-year decline.
The cost-income ratio stood at 33.4%, down 2.0 percentage points compared to the previous year.
Profitability metrics strengthened further, with RoTE at 25.8%, up 2.7 percentage points year-on-year, and EPS at EUR2.15, an increase of 19.7%.
On the capital front, the CET1 ratio stood at 14.2%, down 193 basis points compared to the previous year.
Furthermore, the company raised its 'ambition' for 2026 net profit to EUR11 billion or higher and confirmed its net profit targets for 2028 and 2030.
By Maurizio Carta, Alliance News reporter
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