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UniCredit Q2 net profit increased 8.3 percent

Staff Writer |
UniCredit said its net profit attributable to the Group for the second quarter increased 8.3 percent to 1.02 billion euros from 945 million euros last year.

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Adjusted net profit was 1.02 billion euros, compared to 1.18 billion euros a year ago, reflecting higher other charges and provisions.

Net operating profit for the quarter reached 1.79 billion euros, an increase of 7.9 per cent year-on-year.

Total revenues for the quarter declined 4.3 percent year-on-year to 4.95 billion euros from 5.17 billion euros last year, mainly due to lower trading and a 90 million euros positive release of a tax provision in the year-ago quarter net interest income in Commercial Banking Germany.

Net Interest Income or NII decreased 2.6 percent from the year-ago period to 2.7 billion euros.

Group customer loans amounted to 422.9 billion euros, up 2.9 percent from last year. Customer deposits totalled 413.8 billion euros, up 4.8 percent from last year.

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