From CNBC: 2025-02-11 01:25:44

UniCredit, Italy’s second-largest lender, reported a Q4 profit beat of 1.969 billion euros, surpassing analyst expectations. Revenues reached 6 billion euros, exceeding forecasts. The bank has been making M&A overtures, including bids for Commerzbank and Banco BPM. Italy’s government has expressed resistance to these aggressive moves.

UniCredit unveiled a 4.1% stake in Italy’s top insurer, Generali Group, but insists it has no strategic interest in the venture. Italy’s golden powers legislation allows Rome to intervene in corporate takeovers in key sectors. The market waits to see if UniCredit will focus on Commerzbank, Banco BPM, or both.

Read more: UniCredit earnings Q4 2024