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UniCredit reports 25% profit increase but withdraws Banco BPM bid due to Italian government rules.
UniCredit, Italy's second-largest bank, reported a 25% increase in second-quarter net profit to €3.3 billion despite lower revenues.
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.
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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UniCredit reporta un aumento del 25% en los beneficios, pero retira la oferta de Banco BPM debido a las normas del gobierno italiano.