7/27/2022, 7:17 AM (Source: TeleTrader)
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UniCredit's Q2 net revenue at €4.4B, up 12.5% YoY

UniCredit revealed on Wednesday that its net revenue, excluding Russia, was €4.4 billion in the second quarter of fiscal 2022, marking a 12.5% increase compared to the same period a year earlier, while its total revenue rose 4.9% to €4.5 billion.

The bank's net profit stood at €1.5 billion, 66% up compared with the same quarter a year later. Diluted earnings per share (EPS) rose 73.2% year-over-year to €0.69.

"UniCredit continued to perform well in the second quarter, leading to the best first half performance in over a decade driven by profitable growth, healthy organic capital generation, and a reduction of our cost base despite the impact of inflation," Andrea Orcel, Chief Executive Officer of UniCredit, said. "Our CET1 ratio further strengthened to 15.73 per cent as we demonstrated strong asset quality, with a Cost of Risk at just 10 basis points, excluding Russia."

Baha Breaking News (BBN) / JG