BREAKING NEWS

UniCredit second-quarter net profit beats forecasts

Now Reading:

UniCredit second-quarter net profit beats forecasts

Text size Aa Aa

MILAN (Reuters) – Italy’s largest bank by assets, UniCredit <CRDI.MI>, posted a stronger-than-expected net profit in the second quarter of the year thanks to lower costs and a drop in loan-loss charges. Net profit came in at 945 million euros, well above a consensus forecast of 676 million euros distributed by the bank and also helped by a positive one-off item in Germany. The lender, which earlier this year completed a 13 billion euros capital increase, further boosted its core capital ratio to 12.8 percent at the end of June through the sale of Polish unit Pekao, up from 11.45 percent three months earlier.

(Reporting by Silvia Aloisi; Editing by Mark Bendeich)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.