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flag UniCredit reports 25% profit increase but withdraws Banco BPM bid due to Italian government rules.

flag UniCredit, Italy's second-largest bank, reported a 25% increase in second-quarter net profit to €3.3 billion despite lower revenues. flag The bank also withdrew its bid for rival Banco BPM due to government interference, citing Italy's "golden power" rule as a barrier to completing the deal. flag UniCredit raised its net income outlook for 2023 to €10.5 billion, up from €9.3 billion, and plans to pay out at least €30 billion to shareholders over the next three years.

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