UniCredit Posts €10.6 Billion Profit, Unveils ‘Unlimited’ Plan Pledging €30 Billion to Investors Over Three Years
Management says technology and cost discipline will drive stronger returns through 2028 with capital staying solid at a 14.7% CET1 ratio.
Overview
- Net profit rose 14% to €10.6 billion for 2025, marking 20 consecutive quarters of growth as the bank closed its Unlocked program and moved to a new phase.
- The new ‘UniCredit Unlimited’ plan commits roughly €30 billion to shareholders over three years and about €50 billion over five, after €9.5 billion was distributed for 2025 including a total dividend of €3.1 per share with a €1.7 final payment due on April 22.
- Targets for 2028 include about €13 billion in net profit, a return on tangible equity above 23%, a cost-to-income ratio near 33%, and core revenues around €27.5 billion, supported by AI, digital investments and efficiency gains.
- Capital remains strong with a CET1 ratio of 14.7% after last year’s payouts, underpinning a distribution ambition of roughly 80% of net income.
- Significant stakes in Commerzbank (~26%) and Alpha Bank (~29.8%) delivered about €980 million in dividends and €440 million of investment gains, while CEO Andrea Orcel dismissed Generali deal rumors and said M&A would only proceed on favorable terms; shares rose about 6% to €78.6 after the update.