UniCredit profit edges up on higher fees

Xavier Trudeau
Août 3, 2017

Following winds help it weather tougher accounting standards.

Italian lender UniCredit SpA (UCG, UNCFF.PK) Thursday said its net profit attributable to the Group for the second quarter increased 3.3 percent to 945 million euros from 916 million euros a year ago.

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.

- UniCredit reported a common equity Tier 1 capital ratio of 12.8 percent, and a return on tangible equity of 8.2 percent.

Revenue declined 8% to EUR4.86 billion in the latest period, mainly because of lower trading income, which came in almost half of what the bank posted for the year-ago quarter.

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