UniCredit reported a record full-year 2024 stated net profit of EUR 9.7 billion, the best annual result in the Italian bank's history, while net profit excluding deferred tax asset effects reached EUR 9.3 billion. The figures were published in a press release on the group's investor relations website and confirmed that 2024 represented the third full year of the UniCredit Unlocked strategic plan, with the bank having delivered profitable growth in each of 16 consecutive quarters.
The net profit of EUR 9.3 billion, which excludes the impact of deferred tax asset adjustments, was 8% higher than the equivalent figure for FY2023. Group net revenue rose 4% to EUR 24.2 billion, with fee income up 8% to EUR 8.1 billion.
DISTRIBUTIONS
UniCredit announced total distributions of EUR 9 billion for 2024. The distribution comprises EUR 3.7 billion of cash dividends, with the remainder through share buybacks.
During 2024 the bank built up a stake of about 28% in Commerzbank, a move opposed by Commerzbank's management and the German government.