UniCredit Raises Profit Targets, Expects Further Boost From Commerzbank

(05:09 GMT) *UniCredit 2Q Rev EUR6.52B (05:09 GMT) *UniCredit 2Q Net Interest Income EUR3.66B (05:09 GMT) *UniCredit 2Q Net Commissions and Insurance Result EUR2.46B (05:09 GMT) *UniCredit 2Q Operating Costs EUR2.3B (05:09 GMT) *UniCredit 2Q Loan-Loss Provisions EUR192M (05:10 GMT) *UniCredit 2Q Net Pft EUR2.91B (05:10 GMT) *UniCredit 2Q-End CET1 Ratio 14.3% (05:10 GMT) *Analysts Saw UniCredit 2Q Net Profit at EUR2.84B (05:10 GMT) *Analysts Saw UniCredit 2Q Revenue at EUR6.47B (05:11 GMT) *UniCredit Raises 2026 View (05:11 GMT) *UniCredit Sees 2026 Net Profit Well Above EUR11B (05:11 GMT) *UniCredit Sees 2026 Net Profit Around EUR11.5B Excluding Integration Costs (05:11 GMT) *UniCredit Had Guided for 2026 Net Profit to Be Equal to or Above EUR11B (05:12 GMT) *UniCredit Raises 2028 View (05:12 GMT) *UniCredit Sees 2028 Net Profit Well Above EUR13B (05:13 GMT) *UniCredit Had Seen 2028 Net Profit at Around EUR13B (05:13 GMT) *UniCredit Sees 2030 Net Profit Well Above EUR15B (05:13 GMT) *UniCredit: 2028, 2030 Targets Are Before Full Consolidation of Commerzbank (05:14 GMT) *UniCredit: Commerzbank Evolving From Financial Investment Into Strategic Transaction (05:15 GMT) *UniCredit: 2Q Net Profit Excluding Commerzbank One-Off Was EUR3.1B (05:16 GMT) *UniCredit: Sees Year-End CET1 Rato at About 15% Before Full Consolidation of Commerzbank (05:17 GMT) *UniCredit: CET1 Ratio After Commerzbank Consolidation Expected to Be in 13% Area (05:18 GMT) *UniCredit: Commerzbank Transaction to Lead to Double-Digit Net Profit Growth in 2026-28 (05:35 GMT) UniCredit Raises Profit Targets, Expects Further Boost From CommerzbankBy Adria CalatayudUniCredit raised its profit targets for this year and beyond, and said it expects its increased position in Germany's Commerzbank to provide an additional earnings boost.The Italian bank said it now expects net profit for 2026 to be well above 11 billion euros ($12.55 billion), up from its previous guidance of a result equal to or above 11 billion euros. It also raised its 2028 net profit target to well above 13 billion euros from a previous goal of around 13 billion euros.UniCredit said its 2028 target is before full consolidation of Commerzbank, a transaction that it expects to drive double percentage digit growth in net profit for the 2026-28 period.The update comes shortly after UniCredit secured a 47.6% stake in Commerzbank at the end of a takeover offer.A one-off hit tied to the Commerzbank offer weighed on UniCredit's net profit for the second quarter, which fell 13% on year to 2.91 billion euros. Excluding the one-off effect, UniCredit's net profit was 3.1 billion euros, it said.Revenue was 6.52 billion euros, up 6.6% from the year-earlier period.Analysts had forecast UniCredit's net profit at 2.84 billion euros and revenue at 6.47 billion euros.Write to Adria Calatayud at [email protected]