Unicredit closed the third quarter with a consolidated net profit of 204 million, in line with the market consensus (203 million), but down by 39,1% on an annual basis and by 43,6% compared to 361 million in the second quarter of this year. Revenues amounted to 5,7 billion in the quarter (-8,5% annually and -10,8% quarterly), against expectations of 5,82 billion.
In the first nine months of the year, on the other hand, consolidated net income amounted to one billion, down by 28,5% compared to 1,4 billion a year ago (-26,4% normalized) against revenues of 18,2 billion (-7,1% per annum and -4,7% normalized). Provisions for loans decreased by 10,6% annually in the quarter, to 1,6 billion (-6,8% quarterly) and by 8,7% to 4,4 billion in the first nine months. Regulatory capital improved in September to 11,71% for Core Tier1, while Cet 1 stands at 9,83%, fully anticipating the effects of Basel 3, proforma based on final data and the current regulatory framework .
Unicredit's liquidity position “is extremely solid – said the number one of the Bank, Federico Ghizzoni -. In a general economic scenario that has continued to be very difficult, I believe it is very important that Unicredit has achieved a positive net result even in a particularly challenging third quarter, not only due to the effects of seasonal factors".
