UniCredit reported higher than expected quarterly income and raised its outlook for 2025 after withdrawing a takeover bid for Banco BPM due to government intervention. CEO Andrea Orcel cited the need to focus on controllable factors after facing resistance in banking consolidation efforts in Italy and Germany. UniCredit plans to consolidate stakes in Commerzbank and Alpha Bank, aiming for over 11 billion euros in income by 2027. Despite a decline in overall revenue, net profit for Q2 exceeded expectations at 2.9 billion euros. UniCredit plans to pay shareholders at least 30 billion euros in 2025-2027 through dividends and buybacks.

Read more at Yahoo Finance: UniCredit raises outlook with help from Commerzbank stake as it drops BPM bid