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Italy's largest bank by international reach, providing retail and corporate banking across Italy, Germany, Austria and Central/Eastern Europe.
Italy's largest bank by international reach, providing retail and corporate banking across Italy, Germany, Austria and Central/Eastern Europe.
Earns most of its income from the spread between what it pays on deposits and charges on loans, plus fees from payments, wealth and investment banking. Italy, Germany (through HypoVereinsbank) and Central and Eastern Europe carry the business, and it has built a large stake in Germany's Commerzbank.
In one line: Italy's Bank of America/Citigroup.
Moat: narrow (scale, distribution, customer relationships). Broad pan-European retail/corporate franchise across Italy and CEE, though competitive domestic banking margins.
Headquarters: Milan, Italy · Founded: 1998 · Employees: 73,091
Size UniCredit (UCG.MI) is an Italy Financials company (Major Banks) with a market value of $130B, the largest of 123 Italy companies the cockpit tracks. Shares closed at €76.80 on 6 Nov 2026.
Performance Over six months the shares gained 6.2%, against +9.9% for the median peer and +3.1% for the Italy market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 2.1% over the last twelve months (peer median +4.0%); the operating margin is 56.1% (peer median 37.2%).
Valuation It trades at 1.77× book value against a peer median of 1.61× (10th most expensive of 21).
Price implies The share price implies a return on equity of about 25.8%; UniCredit delivers 17.3%, so the price asks more than the business earns today.
Credit UniCredit has 4 bonds outstanding ($4.25B), rated BBB- by the agencies.
Next results Next results expected around 8 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €25.5B | €41.6B | €49.2B | €46.8B | €28.0B |
| Revenue growth | — | -15% | +5% | +67% | — |
| Net income | €11.1B | €10.9B | €9.72B | €9.51B | €6.38B |
| Free cash flow | n/a | €10.3B | €11.7B | -€95.7B | -€60.3B |
| Capital expenditure | n/a | €1.27B | €1.74B | €1.15B | €1.17B |
| Total debt | €230B | €202B | €191B | €191B | €237B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| UniCredit UCG.MI | $130B | +6% | +2% | 17% | 1.77× | 25.8% |
| Intesa Sanpaolo ISP.MI | $120B | +6% | -6% | 16% | 1.81× | 20.7% |
| BNP Paribas BNP.PA | $114B | 0% | +8% | 11% | 0.84× | 10.4% |
| Commerzbank CBK.DE | $46.3B | +4% | -3% | 10% | 1.36× | 10.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | UCG.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.9% | +2.9% | 9th lowest of 21 |
| 6-month return | +6.2% | +9.9% | 7th lowest of 21 |
| Return on equity | 17.3% | 13.0% | 2nd highest of 21 |
| Price / book | 1.77× | 1.61× | 10th most expensive of 21 |
| ROE the price implies | 25.8% | 14.4% | 2nd most demanding of 21 |
| ROE delivered | 17.3% | 13.0% | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| UniCredit UCG.MI | Italy | $130B | +6% | +2% | 17% | 1.77× | 25.8% | 17.3% |
| HDFC Bank HDFCBANK.NS | India | $129B | -1% | +5% | 14% | 2.00× | 24.8% | 13.9% |
| Capital One COF | United States | $121B | +7% | +26% | 9% | 1.11× | 11.1% | 9.3% |
| Banco Bilbao Vizcaya Argentaria BBVA.MC | Spain | $140B | +20% | +9% | 20% | 2.15× | 24.8% | 19.6% |
| Intesa Sanpaolo ISP.MI | Italy | $120B | +6% | -6% | 16% | 1.81× | 20.7% | 16.4% |
| Bank of Montreal BMO.TO | Canada | $120B | +16% | -2% | 11% | 2.14× | 16.4% | 10.6% |
| Sumitomo Mitsui Financial 8316.T | Japan | $145B | +35% | +11% | 11% | 1.42× | 10.0% | 11.2% |
| BNP Paribas BNP.PA | France | $114B | 0% | +8% | 11% | 0.84× | 10.4% | 10.9% |
| Bank of Nova Scotia BNS.TO | Canada | $114B | +21% | -3% | 12% | 1.99× | 16.3% | 11.6% |
| Mizuho Financial 8411.T | Japan | $110B | +7% | +6% | 13% | 1.52× | 11.5% | 12.5% |
| DBS D05.SI | Singapore | $155B | +19% | -5% | 16% | 2.83× | 21.4% | 16.3% |
| Bank of Communications 3328.HK | Hong Kong | $107B | +19% | +3% | 8% | 0.55× | 4.8% | 8.3% |
| China Merchants Bank 600036.SS | China | $164B | +12% | +9% | 14% | 0.94× | 5.4% | 13.6% |
| Cm Bank 3968.HK | Hong Kong | $165B | +16% | +3% | 13% | 0.99× | 10.2% | 13.3% |
| Oversea-Chinese Banking O39.SI | Singapore | $97.6B | +23% | -3% | 13% | 2.02× | 14.9% | 13.2% |
| Banco Santander SAN.MC | Spain | $174B | +4% | +15% | 13% | 1.40× | 17.1% | 13.1% |
| U.S. Bancorp USB | United States | $92.6B | +8% | +1% | 13% | 1.55× | 13.9% | 12.8% |
| ING Groep INGA.AS | Netherlands | $89.8B | +11% | +7% | 14% | 1.63× | 12.5% | 13.6% |
| PNC Financial Services PNC | United States | $89.4B | +4% | +8% | 13% | 1.59× | 13.2% | 12.9% |
| Westpac Banking WBC.AX | Australia | $87.6B | +4% | +2% | 9% | 1.78× | 16.4% | 9.5% |
| Commonwealth Bank of Australia CBA.AX | Australia | $194B | +9% | +1% | 14% | 3.56× | 33.3% | 13.9% |
UniCredit has 4 bonds outstanding with $4.25B face value. The agencies rate it BBB-.