MILAN (Reuters) – UniCredit reported a stronger-than-expected 36 percent rise in third-quarter profit on Tuesday, as high interest rates continue to boost loan revenue without putting too much pressure on time upon customers’ request.
Core capital during the period also exceeded expectations, reaching 17.2% of risk-weighted assets, up from 16.6% at the end of June.
Unicredit, the only Italian bank considered by supervisors to be globally systemically important, reported net profit of 2.3 billion euros for the three months through September, above analysts’ consensus to 1.9 billion euros provided by the group.
(Valentina Za report, French version Mariana Abreu, edited by Blandine Hénault)
©2023 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.