UniCredit stock posts record third-quarter profit and lifts outlook
Published on 11/09/2026 at 11:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSRecord profit strengthens UniCredit outlook
- Third-quarter net profit rose 24% year on year to 3.3 billion euros, while return on tangible equity reached 25.5%.
- UniCredit raised its 2026 net profit ambition to well above 11.5 billion euros before extraordinary charges.
- The bank expects remaining Commerzbank approvals by late November and new governance in the first quarter of 2027.
UniCredit reported its strongest quarterly result to date on Monday, November 9, 2026, lifting its 2026 profit ambition as it advances toward control of Commerzbank. In a press release, the Italian bank described the third quarter as its best ever and said performance beat across key indicators.
Net profit rose 24% year on year to 3.3 billion euros in the July-to-September period, and increased 12% from the second quarter. Return on tangible equity reached 25.5%, four percentage points above the year-earlier level. Revenue climbed 12% to 6.9 billion euros, with core revenues accounting for 90% of the total.
Growth reaches earnings and capital
Net interest income increased 8% year on year and 5% quarter on quarter, supported by loan and deposit growth and disciplined pricing. Fees and net insurance revenue rose 11% from a year earlier. Costs declined 1% despite continued investment, producing a 32.8% cost-income ratio in the quarter.
For the first nine months, net profit reached 9.4 billion euros, up 7% from the comparable period. Excluding a 653 million euro positive one-off booked in the second quarter of 2025 from the revaluation of life-insurance joint-venture stakes, UniCredit said nine-month profit growth was 16%. Organic capital generation reached 8.2 billion euros, while the common equity tier 1 ratio stood at 15.0% after accrued distributions and the deduction of the 4.75 billion euro 2025 share buyback.
The board approved an interim dividend of more than 4.5 billion euros, equivalent to 3.0034 euros per share. The payment is scheduled for November 25, following an ex-dividend date of November 23 and a record date of November 24.
Higher targets meet Commerzbank execution
UniCredit raised its 2026 net profit ambition to well above 11.5 billion euros before extraordinary charges. Management also confirmed standalone net profit ambitions of well above 13 billion euros for 2028 and well above 15 billion euros for 2030, with return on tangible equity around 25%. These figures are management ambitions rather than a formal profit forecast.
The Commerzbank transaction is moving into its next phase. UniCredit expects the remaining regulatory approvals by late November, followed by settlement and control. New governance and the launch of the bank's planned "Commerzbank Unlocked" program are expected in the first quarter of 2027, subject to the required approvals and the timing of a shareholder meeting. The company said its 2026 distribution is unaffected, while the 2027-2030 outlook improves compared with the standalone case.
UniCredit stock traded at 80.92 euros on Lang & Schwarz at 11:08 CET on Monday, November 9. Investors can follow the real-time quote of UniCredit stock for the latest indication.
UniCredit results and market profile
- Company: UniCredit S.p.A.
- ISIN: IT0005239360
- Lang & Schwarz price: 80.92 euros at 11:08 CET on November 9, 2026
- Third-quarter net profit: 3.3 billion euros
- 2026 profit ambition: Well above 11.5 billion euros before extraordinary charges
European banking shares remain influenced by the broader FTSE MIB market environment; current market reports provide the wider index context.
Further strategic developments and earnings updates are available in more news and analyses on UniCredit stock.
