UniCredit reported its best first half on record, with net profit reaching €6.3 billion, up 3% year-on-year, the bank announced on Wednesday. Second-quarter profit of €2.9 billion beat analyst estimates of €2.83 billion.
CEO Andrea Orcel described the results as exceptional. The Milan-based lender raised its full-year 2026 net profit guidance to well above €11 billion, or approximately €11.5 billion excluding integration costs, and set longer-term targets of over €13 billion by 2028 and over €15 billion by 2030, both before the full consolidation of Commerzbank.
UniCredit expects regulatory approvals for its Commerzbank takeover bid possibly in the fourth quarter. Following its voluntary offer, UniCredit holds roughly 44.37% of Commerzbank shares and can access call options on a further 3.22%, potentially lifting its stake to 47.59%.