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UniCredit targets 2024 net profit above 4.5 billion euros -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: UniCredit financial institution brand is seen in Siena, Italy June 29, 2017. REUTERS/Stefano Rellandini//File Picture

MILAN (Reuters) – UniCredit stated it could develop its internet revenue by 10% a yr by means of 2024 to above 4.5 billion euros ($5 billion) by betting on payment revenue to drive revenues.

UniCredit on Thursday unveiled a brand new three-year technique underneath Andrea Orcel, who took the helm in April. The previous head of funding banking at UBS has pledged to spice up profitability after Italy’s second-biggest lender restructured underneath earlier CEO Jean Pierre Mustier.

UniCredit posted a 3.37 billion euro revenue in 2019, earlier than swinging to a 2.79 billion euro loss in 2020 when the coronavirus pandemic engulfed Italy.

The financial institution stated it noticed its 2022 internet revenue above 3.3 billion euros, nearly unchanged from its newest steering for 2021 based mostly on its new definition of internet revenue. ($1 = 0.8834 euros)

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