UniCredit reported record first-half 2026 adjusted net profit of €6.3 billion (€6.1 billion stated), up 24% year on year, with a record second-quarter adjusted net profit of €3.1 billion (€2.9 billion stated) extending the Italian bank's run to a 22nd consecutive quarter of record results.
Return on tangible equity reached 24% for the first half and around 23% for the second quarter alone, according to the group's results release. Second-quarter revenue rose 7% year on year.
RECORD STREAK AND GUIDANCE
UniCredit raised its 2026 net profit target to around €11.5 billion, excluding integration costs. Chief executive Andrea Orcel said the results showed "the strengths of our business, the magnitude of our profitable organic growth".
First-half operating costs fell 1% year on year to €4.6 billion, while fees and net insurance income rose 11% to €5.0 billion.
CAPITAL AND DISTRIBUTIONS
The group's CET1 ratio stood at 14.3% at the end of June, and UniCredit kept its ordinary payout ratio at 80%.
Management said it expected net interest income to accelerate sequentially in the second half of 2026.