UniCredit Net Profit Up to EUR945 Million in 2nd Quarter

By Giovanni Legorano Features Dow Jones Newswires

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.

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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)