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UniCredit raises profit outlook for 2025
Bangkok Post
|May 13, 2025
Italy’s second-biggest bank, UniCredit, lifted its 2025 outlook yesterday after posting a surprise increase in quarterly profit but remained resolute that it would not do deals at any cost.
CEO Andrea Orcel has placed UniCredit at the heart of the consolidation wave sweeping Italian finance, with a €14 billion ($16 billion) all-share offer for rival Banco BPM and a 6.7% stake in insurer Generali, which UniCredit has said is a financial investment, the same as its 28% stake in Commerzbank.
However, the offer for BPM hangs in the balance after Rome imposed strict conditions to clear it, which UniCredit said could be harmful to the bank.
Plans for a Commerzbank takeover also face strong opposition from the new German government and the strategy over Generali remains unclear.
This story is from the May 13, 2025 edition of Bangkok Post.
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