ROME (dpa-AFX) - UniCredit SpA (UCG) reported that its group stated net profit for the second quarter rose 15.9% to 2.68 billion euros from 2.31 billion euros in the same quarter last year. Earnings per share were 1.61 euros, up 30.3% from the prior year.
Total revenues for the second quarter were 6.33 billion euros, up 6.1% from the prior year.
The fiscal year 2024 net revenue guidance is upgraded to above 23 billion euros, while the organic capital generation guidance is improved to above 350 basis points. The net profit guidance is confirmed at above 8.5 billion euros, retaining further flexibility to secure 2025-26, and confirming its confidence in a high sustainable RoTE greater than 15% and strong growth in earnings per share and Dividend per share.
The company announced an interim 2024 distribution of 1.4 billion euros in dividends and 1.7 billion euros in share buy-backs as part of total accrued distribution of 5.2 billion euros in the first half of the year.
In a separate press release, UniCredit S.p.A. announced that it has entered into a binding agreement to acquire the entire share capital of Vodeno Sp. z o.o. and Aion Bank SA/NV for about 370 million euros.
The company noted that the acquisition will have a minimal impact on its consolidated CET1 ratio of around 15 basis points at closing, which is expected in fourth-quarter 2024, subject to regulatory approvals.
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