Q1 revenue 6.3 bln eur, up 7% (Il Sole 24 Ore Radiocor) - Milan, 07 May - The Italian bank UniCredit said that in the first quarter of 2024 net profit rose 24% to 2.6 billion euros.

Net revenue rose 7% to 6.3 billion euros.

Return on tangible equity (ROTE) reached 23% and common equity tier one 16.23%.

The bank said that its full-year net profit guidance was improved to over 8.5 billion euros and the total full-year distribution guidance raised to be in line with 2023.

UniCredit said that it is "well on track to deliver mid-term aspirations" of ROTE in excess of 15%, as well as "strong EPS and DPS growth with best in class, sustainable and balanced distributions supported by organic capital generation and the return or deployment of our substantial excess capital by no later than 2027.".

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(RADIOCOR) 07-05-24 08:29:18 (0199) 5 NNNN