UniCredit: Massive Acquisition Fuels Expansion

UniCredit is poised for significant expansion through its pending acquisition of Commerzbank, with ECB approval secured and a controlling stake expected this year. UNCRY delivered record 2Q and 1H results, with core revenues up 5% year-over-year and a cost/income ratio of 34%, signaling improving efficiency. Management guides for net profit above €11B in 2024, €13B in 2028, and €15B in 2030, with the Commerzbank deal expected to unlock further value.