UniCredit 3Q Net Profit Rises
24 Octubre 2017 - 3:36AM
Noticias Dow Jones
By Pietro Lombardi
Italian lender UniCredit SpA (UCG.MI) said on Tuesday that its
third-quarter net profit rose strongly, supported by one-off
profits from assets disposal, lower write downs on loans and
provisions, and higher income from fees and commissions.
According to the bank's preliminary results, net profit stood at
2.82 billion euros ($3.32 billion) compared with EUR447 million in
the same period last year. Adjusted after-tax profit, which doesn't
include one-off figures such as the disposal of its
asset-management unit Pioneer, was EUR838 million, the bank
said.
UniCredit's net write downs on loans and provisions declined by
almost 40% to EUR598 million, while income from fees and
commissions increased 4.2% to EUR1.59 billion.
Net interest income declined 3.5% to EUR2.5 billion.
UniCredit will release its full third-quarter results on Nov. 9.
The bank said that it decided to release some preliminary results
Tuesday after "an erroneous publication of data which included
preliminary and incomplete 3Q17 figures" a day ago. UniCredit
inadvertently uploaded a table to its website on Monday, it said,
which has since been removed.
UniCredit also said its fully loaded CET1 ratio, a key measure
of capital strength, is expected to be above 13.5%.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
October 24, 2017 04:21 ET (08:21 GMT)
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