UniCredit on Monday announced record
first-quarter profits and said it has reached a 10-year
agreement with Google to simplify and improve its digital
architecture via the use of Google Cloud.
Italy's biggest bank said its net profit for the first three
months of 2025 was up 8.3% to 2.8 billion euros and CEO Andrea
Orcel said it was confident of beating 2024's profit for the
year of 9.3 billion euros, which it had previously said it
expected to match.
"UniCredit posted an outstanding set of first quarter results
beating across all KPIs and widening our positive gap vs. peers.
We delivered the best quarterly results in UniCredit's history
and the 17th quarter of consecutive profitable growth," said
Orcel.
"The macro environment has become more complex and uncertain.
Within this context we present a positively differentiated and
resilient investment case with a high degree of visibility on
earnings and distribution to the benefit and confidence of our
shareholders.
"This gives us both confidence to improve our 2025 net profit
and distribution guidance as well as conviction in our 2027
ambition.
"We remain committed to delivering consistent high-quality
performance and are focused on supporting our clients and
communities especially in challenging times".
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