UniCredit Profit Up as Bad Loans Fall
05 August 2015 - 10:30PM
Dow Jones News
By Giovanni Legorano
MILAN-- UniCredit SpA said on Wednesday that second-quarter net
profit increased 30%, helped by higher trading income and lower
provisions for bad loans.
The Italian bank's net profit for the second quarter was EUR522
million ($567.5 million), compared with EUR403 million for the same
period of last year.
Analysts expected net profit of EUR501 million, according to a
poll by data provider FactSet.
Revenue declined to EUR5.73 billion from EUR5.8 billion,
compared with analysts' expectations of EUR5.72 billion.
UniCredit stock jumped after the results were published, and
stood 4.5% higher.
Write to Giovanni Legorano at giovanni.legorano@wsj.com
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