UniCredit CIB raises revenue as trading flies

By Jon Hay
05 Nov 2020

UniCredit’s CEO Jean Pierre Mustier delivered an upbeat assessment of the bank’s third quarter results on Thursday, confirming its profit and provisioning guidance for the year, though debt capital markets revenue sagged.

Total revenue came in at €4.35bn, up 4.4% from the second quarter and down 7.4% year-on-year. Net profit of €680m was up 62% from the second quarter’s €420m, though is 42% lower than a year ago.

UniCredit made a €2.65bn loss in the first quarter, because it had ...

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