UniCredit Net Profit Up to EUR945 Million in 2nd Quarter
August 03 2017 - 12:50AM
Dow Jones News
By Giovanni Legorano
ROME--Italian lender UniCredit SpA (UCG.MI) said second-quarter
net profit rose slightly, supported by higher fees and commissions
as well as lower provisions for bad loans.
The bank, Italy's largest by assets, said Thursday net profit
stood at EUR945 million ($1.1 billion), compared with EUR916
million a year ago. Last year, lower costs and one-time items,
including a EUR216 million capital gain on UniCredit's sale of its
stake in Visa Europe, buoyed the figure.
Revenue declined 8% to EUR4.86 billion in the latest period,
mainly because of lower trading income, which came in nearly half
of what the bank posted for the year-ago quarter.
Write to Giovanni Legorano at giovanni.legorano@wsj.com
(END) Dow Jones Newswires
August 03, 2017 01:35 ET (05:35 GMT)
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