UniCredit SpA delivered its strongest quarterly performance to date in Q1 2025, reporting net earnings of €2.8 billion, an 8.3 percent increase compared with the same period last year. The bank described the March-quarter results as “the best quarter in history,” marking its seventeenth consecutive period of profitable growth.
Total net revenues rose by 2.8 percent to €6.0 billion, buoyed by an 8.2 percent jump in fee income to €2.3 billion driven mainly by robust investment and financing fees. This growth offset a 4.8 percent quarter-on-quarter decline in net interest income, which came in at €3.5 billion.
“We delivered an outstanding set of first-quarter results, outperforming peers across all key metrics,” said CEO Andrea Orcel. “These record figures underpin our confidence in upgrading full-year targets, with potential for further upside.”
Following the strong start, UniCredit now expects 2025 net profit to exceed €9.3 billion, with net revenues reaching approximately €23 billion.
On the strategic front, UniCredit has been expanding its digital and European footprint. In recent months it completed acquisitions of Aion Bank and Vodeno firms specializing in digital financial services and secured ECB approval to raise its stake in Commerzbank to 29.9 percent, positioning itself for a possible takeover bid. The bank is also in discussions with Italian authorities regarding its proposed offer for Banco BPM SpA.
In addition, UniCredit received the ECB’s go-ahead to commence the second tranche of its 2024 share buy-back programme, authorizing up to €3.6 billion in repurchases.
