Bank earnings & UniCredit outlook H1‑2026

In July 2026 the Union Internationale de Banques (UIB) of Tunisia posted a 5.7 % YoY rise in net banking product to 273.2 MDT and an 11 % increase in operating profit, with modest interest‑margin gains and an improved cost‑to‑income ratio.

Around the same period Italy’s UniCredit delivered record first‑half results, net profit of about €6.3 billion and a 7 % rise in revenue to €6.5 billion. The bank raised its 2026 profit guidance to well above €11 billion, its 2028 target to over €13 billion and reaffirmed a long‑term aim of exceeding €15 billion by 2030. Growth was driven by strong core revenues, higher commissions, insurance‑management earnings and AI‑generated cost efficiencies that pushed its cost‑to‑income ratio to a record 34 % and RoTE to 23.7 %.

Following the share‑exchange that gave UniCredit roughly 48 % of Commerzbank, the stake is being re‑classified as a strategic transaction with a view to full operational control by Q4 2026/Q1 2027, subject to ECB and German regulator approval. The bank cancelled a €4.75 billion share‑buy‑back programme and announced a €2.8 billion cash dividend. Market reaction was mixed, with Commerzbank shares falling about 5 % and UniCredit’s stock slipping around 2 %. These moves underline sustained earnings growth and a decisive shift in UniCredit’s asset‑allocation strategy across Europe and North Africa in H1 2026.