ROMA (ITALPRESS) – UniCredit closed the first trimester with a net profit that has been attested to a record result of 3.2 billion, up by 16% year, supported by profitability and creation of value for shareholders, with a RoTE of 26%, up by 2.7 percentage points compared to the previous year, and an EPS of 2.15, up by 19.7% compared to the previous year. Net revenues amounted to 6.7 billion, up 3.3% compared to the previous year, consisting of a margin of interest of 3.6 billion, from commissions and net result of insurance management of 2,5 billion, and from adjustments on credits for 0.2 billion. The margin of interest decreased by 1.1% compared to the fourth quarter of 2025, or remained unchanged except for the effect of the least number of calendar days in the quarter.
The performance was supported by a growth of quality of loans (up 2,3%4 trimester per quarter or up 5,84% year per year) and by a regulated management of the remuneration of deposits, with the average pass-through that closed the period to about 30% for the Group excluding Russia. The first trimester – says UniCredit in a note – marked the 21st consecutive quarter of profitable and quality growth, demonstrating a strong commercial momentum. This is a step further than our best year ever and five years of constant overperformance.
UniCredit “remains positioned to the best to continue to achieve sustainable growth, of high quality and profitable in the current context, supported by idiosyncratic strengths, by sources of diversified revenues and by a disciplined execution. Our performance makes us confident about the sustainability of our profits, and about our ability to achieve goals in different macroeconomic contexts.” This is what we read in the notes regarding the first trimester of UniCredit, according to which – moreover – the Group “has achieved 21 consecutive quarters of growth, with continuous progress in acceleration and transformation, demonstrating a track-record of constant outperformance. In this context, the Group has increased its ambition for the net profit of 2026 equal to or greater than 11 billion, to prove greater confidence in its ability to generate excellent yields. UniCredit also confirms its commitment to financial ambitions at 2028 and beyond, supported by a solid standalone trajectory and an exceptional equity story.”.
UniCredit in the first trimester recorded commissions and net result of the insurance management pairs to 2,5 billion, with an increment of 8% year on year. The commissions and the net result of the insurance management accounted for approximately 38% of net revenues, a result already in line with the strategic ambition for 2028. Trading proceeds amounted to 476 million, up 2.3% year-on-year. The dividends amounted to 408 million, more than tripled year by year, benefiting from the greater contribution of our strategic portfolio. Other revenues/expenses decreased to -107 million, the difference from the previous year is due to a positive one-off post in the first quarter of 2025.
Operating costs amounted to 2.3 billion, down by 1% year on year, reflecting the constant discipline on costs both in staff costs, down by 0.3% year on year, and in those not related to staff, down by 2.2% year on year. With 185 million credit adjustments in the quarter, the cost of risk remained structurally low at 17 base points, in line with the ambition of 15-20 base points for 2026, with the expectation that it is distributed more uniformly during the year. The CET1 ratio was 14.2%, or 14.8% proformed for Danish Compromise, above the management goal for the CET1 ratio in a range between 12.5% and 13%.
“UniCredit has reported another record series of quarterly results in all major financial metrics, showing the solidity and consistency of our model, and the execution of our strategy. Net profit reached 3.2 billion, up 16% compared to the previous year, and an excellent RoTE amounted to 26%. These results reflect a disciplined performance on all levers – revenue growth, cost efficiency and capital solidity – showing how a well-managed and diversified bank can achieve excellent returns throughout the macroeconomic cycle, while investing for its future.” Thus Andrea Orcel, Ad di UniCredit, commenting on data relating to the first quarter of 2026. “While the geopolitical and macroeconomic scenario becomes more uncertain and complex, our winning culture that unites our people, our continuous transformation and our unique strengths and defense lines prepare us for the best for the future in a wide range of scenarios,” added Orcel.
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