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UniCredit posts surprise profit jump, drops Banco BPM bid

UniCredit has today posted a much higher than expected quarterly profit and raised its 2025 outlook, a day after ditching a takeover bid for rival Banco BPM which had led Italy's second biggest bank to clash with the government.

Business • 23 Jul

Commerzbank official tells UniCredit CEO to sell, go home

UniCredit's recent push for a tie-up with Commerzbank has prompted calls by a top official of the German bank for the Italian lender's CEO, Andrea Orcel, to abandon the pursuit.

Business • 04 Jul

UniCredit has posted a surprise increase in first-quarter profit

UniCredit ups profit outlook, to be selective on deals

Italy's second-biggest bank UniCredit has strengthened its 2025 outlook after posting a surprise increase in first-quarter profit, and said it would pursue deals only if they further improved its "unmatched standalone case".

Business • 12 May

Andrea Orcel, the CEO of Uncredit, is at Davos this week

Commerzbank says UniCredit's approach is hostile

Commerzbank has defined UniCredit's approach for a potential tie-up as "hostile", and said there had been no discussion of it with the Italian bank in the past two years, despite UniCredit CEO Andrea Orcel saying there had.

Business • 23 Jan

Unicredit's chief executive Andrea Orcel

Unicredit, Commerzbank merger would add value - Orcel

A merger of UniCredit and Commerzbank could add value for all stakeholders and create a stronger bank, UniCredit CEO Andrea Orcel told a German newspaper today, adding a decision was in the hands of Commerzbank stakeholders.

Business • 16 Sep 24

Unicredit is Italy's only bank deemed by supervisors to be of global systemic relevance

UniCredit tops forecast with 36% profit jump

Italy's UniCredit has today beaten third-quarter profit forecasts as higher rates boosted income, but kept its full-year profit goal, saying it needed time to decide how to best use this year's "exceptional" growth in earnings.

Business • 24 Oct 23

Andrea Orcel, the CEO of Unicredit, addressed the Bloomberg New Economy Gateway Europe event in Wicklow today

Recent bank events 'isolated incidents' - Unicredit CEO

The group chief executive of UniCredit has said that issues at certain lenders in recent months that led to wider concerns about the health of the banking system were isolated incidents.

Business • 19 Apr 23

UniCredit flags up to €7.4 billion in losses on Russia

Italy's second-biggest bank UniCredit said a full write-off of its Russian business, including cross-border exposure, would cost around €7.4 billion, leaving its capital distribution plans hanging by a thread.

Business • 09 Mar 22

Italian banker Andrea Orcel pictured at the court proceedings along with Santander chairman Ana Botin

Santander appeals against Andrea Orcel payout ruling

Santander has appealed against a Madrid court ruling ordering the Spanish lender to pay Italian banker Andrea Orcel €51.4m in compensation for a withdrawn offer to hire him as CEO three years ago, two sources familiar with the process said today.

Business • 16 Feb 22

UniCredit said 2021 revenues came in at €18 billion, ahead of its guidance for more than €16 billion

UniCredit beats 2021 guidance, renews deal with Allianz

Italian bank UniCredit has today posted better than expected 2021 results as the push by new chief executive Andrea Orcel to lift revenue began to bear fruit while costs remained in check despite rising pay and one-off charges.

Business • 28 Jan 22

Santander's Ana Botin and Italian banker Andrea Orcel

Santander ordered to pay Orcel €68m after losing court

A Madrid court has ordered Santander to pay Italian banker Andrea Orcel €67.8m over an offer to make him CEO which the Spanish bank withdrew, a pricey twist in an employment dispute that has captivated the world of high finance.

Business • 10 Dec 21

Ana Botin and Andrea Orcel at today's court hearing in Madrid today

Santander boss Botin defends Orcel CEO offer in court

Santander boss Ana Botin has today defended the bank's actions in a court hearing over the withdrawal of an offer more than two years ago to make Italian banker Andrea Orcel its chief executive.

Business • 19 May 21

Santander said it would not meet the Italian banker's pay expectations in an unusual u-turn for such a high-level banking appointment

Santander faces €100m claim over withdrawn CEO job

Andrea Orcel is making a €100m legal claim against Santander after the Spanish bank withdrew an offer for him to be its chief executive, a source close to the matter said today.

Business • 03 Jul 19

Banco Santander has said that Andrea Orcel would not take over as CEO after it could not meet his pay expectations

Spain's Santander drops Orcel as next CEO, blames pay

Banco Santander has said that Italian banker Andrea Orcel would not take over as chief executive after it could not meet his pay expectations, in a rare and unusual U-turn on such a high-level appointment.

Business • 16 Jan 19

Andrea Orcel