Unicredito Spa Ord New (UNCFF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Before I hand over to Magda Palczynska, Head of Investor Relations, a reminder that today's call is being recorded. Ma'am, you may begin. Good morning and welcome to Unicredit's second quarter and half year 2025 results conference call. Andrea Orchel, our CEO, will take you through the presentation. This will be followed by a Q&A session with Andrea and Stefano Porro, our CFO. As always, please limit yourself to two questions. With that, I'll hand over to Andrea. Good morning and thank you for joining us today for Unicredit's remarkable second quarter results. Obviously, yesterday's announcement regarding BPM is in the background. Given the continued uncertainty for Unicredit and its shareholders generated by the Golden Power, we have decided to draw a line under this transaction and move on. As today's results and upgraded guidance demonstrate, we are accelerating beyond expectations, particularly neatly, gaining market share profitably and raising the value that we expect to create for our shareholders. As CEO of Unicredit, I believe that my job is to create the most value possible for our shareholders whilst strengthening our bank. M&A is just a tool, which depending on the condition of a transaction may or may not help in achieving that. While our decision has been difficult, It is absolutely the correct one for all our stakeholders. Going back to results, we are operating in a rapidly evolving banking landscape, one that continues to challenge the industry. Last year, the overall macro propelled us. This year, it is very different. And yet, we are on track to beat last year's record, becoming the benchmark for the sector across all KPIs. We are proving that Unicredit Unlocked is a winning strategy, that our strong and differen...