UniCredit posts higher than expected Q1 results – English

(ANSA) – ROME, MAY 3 – Italy’s second biggest bank UniCredit
on Wednesday posted higher than expected first quarter results
with a record net profit of 2.1 billion euros, against analysts’
expectations of 1.3 billion.
   
Earnings amounted to 5.8 billion euros, a year-on-year rise of
56.5%.
   
The bank, second in Italy to Intesa Sanpaolo but reckoned to be
Italy’s only systemically important bank, hiked its 2023 profit
forecast to over 6.5 billion, with net earnings above 20.3
billion.
   
UniCredit rose 5.5% on the Milan bourse on the results. (ANSA).