UniCredit Net Profit Up to EUR945 Million in 2nd Quarter

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.

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)