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7/30, 7:20 AM (Source: TeleTrader)
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UniCredit revenue down 6% to €4.4B in Q2

UniCredit said on Friday that its revenue in the second quarter of 2021 amounted to €4.4 billion, falling 6.1% compared to the same period a year earlier.

The Italian lender's net operating profit soared 100% year on year to €788 million and underlying net profit stood at €528 million. Operating costs were up 0.8%, while the bank's CET1 ratio was strong at 15.5%.

"UniCredit has strong fundamentals based on its unique geographic footprint, the distribution power of its network and the strength of its balance sheet. These provide an excellent foundation for improving returns and creating long-term value for all our stakeholders. We have made significant early progress in simplifying the business so that it can operate faster and with greater clarity," CEO Andrea Orcel stated.

Breaking the News / NP