By Kim Richters

UniCredit SpA said Monday that it would lift its net interest income guidance for 2022 as it considered changes made by the European Central Bank to the terms and conditions of targeted longer-term refinancing operations facilities.

The Italian bank said full-year net interest income excluding Russia is expected at more than 9.7 billion euros ($9.67 billion) and includes a positive contribution of around EUR400 million related to the TLTRO lending program. It previously guided for more than EUR9.6 billion.

It doesn't expect positive effects on its financial results related to the lending program from next year onwards, confirming it is targeting at least EUR10.1 billion in group net interest income excluding Russia for 2023.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

October 31, 2022 03:59 ET (07:59 GMT)

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