Finance
UniCredit Climbs After Higher Fees Lift Profit Past Estimates
- CEO Orcel counts on higher fees to offset fading rate boost
- Bank to pay out or deploy excess cash by 2027 at the latest
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UniCredit SpA rose to the highest in almost 13 years after the first-quarter profit topped analyst estimates and it raised its guidance for shareholder payouts this year.
UniCredit plans a total distribution in line with last year, when it paid out about €8.6 billion. Adjusted profit for the full year is expected to exceed €8.5 billion, as higher fees help offset lower net interest income.