UniCredit closed the first half of the year with a consolidated net profit down 25,2% to 810 million (1,1 billion a year ago), but up 5,7% net of securities repurchases. This is what we read in a note issued by the bank in Piazza Cordusio.
In the second quarter the bank made a net profit of 361 million, down 19,4% from $449 million in the first quarter but up 113,8% from $169 million a year ago. The figure is above market expectations which were for a profit of 349 million. Revenues amounted to 12,5 billion in the half year (-6,4% per annum and -3,3% net of securities repurchase transactions) and to 6,4 billion in the quarter (+2% per annum and +5,5% quarterly).
Satisfied CEO Federico Ghizzoni: “The performance of the UniCredit Group in the first half of 2013, the capital ratios and the significant results of our managerial initiatives allow UniCredit to look to the coming months with confidence. The disbursement of new loans to businesses and households increases – continued Ghizzoni – and, for the third consecutive quarter, the net new flows towards non-performing loans slow down”.
Meanwhile, after the publication of the accounts, Unicredit shares gained 0,62% in Piazza Affari.
