UniCredit Updates 2022 Net Interest Income Guidance
October 31 2022 - 3:14AM
Dow Jones News
By Kim Richters
UniCredit SpA said Monday that it would lift its net interest
income guidance for 2022 as it considered changes made by the
European Central Bank to the terms and conditions of targeted
longer-term refinancing operations facilities.
The Italian bank said full-year net interest income excluding
Russia is expected at more than 9.7 billion euros ($9.67 billion)
and includes a positive contribution of around EUR400 million
related to the TLTRO lending program. It previously guided for more
than EUR9.6 billion.
It doesn't expect positive effects on its financial results
related to the lending program from next year onwards, confirming
it is targeting at least EUR10.1 billion in group net interest
income excluding Russia for 2023.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 31, 2022 03:59 ET (07:59 GMT)
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