UniCredit received a record quarterly profit, about 10% was brought by the division in Russia
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One of the world's largest Italian banks, UniCredit, has recorded its largest quarterly profit in its history, according to data from the financial institution's report, Bloomberg reports.

For the first quarter of 2025, the bank's net profit was 2.77 billion euros ($3.1 billion), which exceeded analysts' expectations with an average forecast of 2.38 billion euros.

In this regard, UniCredit has raised its annual profit forecast to more than 9.3 billion euros and revenue to 23.5 billion euros. The bank also plans to increase shareholder payouts compared to last year.

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At the same time, the net profit of UniCredit's Russian business for the first quarter of 2025 amounted to 256 million euros, which is 20% more than in the same period last year, writes Frank Media.

The total revenue of the Russian division increased by 2.6% quarter-on-quarter, to 366 million euros.

The news had a positive impact on the bank's shares. At the opening of trading in Milan, they rose by 3.8%, reaching their highest level in the last 14 years. UniCredit's market capitalization reached 87 billion euros.

The record financial result strengthens the position of the bank's CEO Andrea Orsel, who is considering new possible acquisitions, Bloomberg reports.

His initiative to acquire Commerzbank caused concern in the German government, and his unwelcome offer to buy Italy's Banco BPM caused resistance from the Italian authorities.

In an interview with Bloomberg, Orsel said UniCredit is starting talks with Italian officials to discuss the terms Rome has set for the Banco BPM deal, but he said no decision has been made on further action.

Over the past four years, Orsel has significantly optimized the bank's operations – reducing the number of employees, exiting low-profit areas and focusing on profitable markets.

  • UniCredit is one of the largest Western banks still present in the Russian market, along with Austria's Raiffeisen Bank International. Other large European banks, including Société Générale and ING, have long since left Russia, despite significant financial losses.
  • UniCredit's presence in Russia is also a touchy issue for the European Central Bank, which in 2024 ordered UniCredit to quickly wind down its operations in Russia.