Trading boost lifts UniCredit ahead of new strategy launch

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By Tyler Davies
07 Nov 2019

UniCredit’s has chalked up its best quarterly numbers in a decade, its CEO said on Thursday, with the performance of the investment bank lifted by soaring trading revenues. The Italian lender claimed victory on its ‘Transform 2019’ plan, ahead of the launch of a new business strategy early next month.

UniCredit earned €1.1bn of net profit as a group in the third quarter of 2019, up 25.7% versus the same period last year.

The group’s total revenues were only 1.7% higher year on year, but its bottom line was boosted by a lower volume of loan loss provisions ...

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