• Unicredit 2Q higher as bank continues reforms

    8 monthes ago - By Chron

    MILAN - UniCredit says its second-quarter profits grew by 8 percent as the Italian bank pushes reforms aimed at raising capital and cutting costs.
    The bank, Italy's biggest by assets, on Tuesday reported net profit of 1 billion euros in the period, compared with 945 billion euros in 2017.
    The bank said it reduced its provisions for bad loans by a quarter, to 504 million euros, as total revenues declined by 4.3 percent to just under 5 billion euros on lower net interest and trading income. It said it had closed 58 branches in the quarter, nearly completing its target of 944 closures.
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