MILAN (Reuters) – UniCredit on Wednesday raised its financial targets for the year, after joining peers in posting a stronger than expected first quarter income.
Italy’s only bank regulators deem of global systemic relevance forecast a 2023 profit above 6.5 billion euros ($7.2 billion), improving the guidance it had given in February about broadly matching its 2022 result of 5.2 billion euros.
Net profit in the first three months came in at 2.06 billion euros, above an average analyst forecast of 1.3 billion euros, boosted by a bigger than expected 18% yearly jump in revenues.
($1 = 0.9071 euros)
(Reporting by Valentina Za, editing by Cristina Carlevaro)
