UniCredit SpA, the largest Italian bank, reported a 2-fold profit growth in the fourth quarter of 2018. Net profit for the quarter rose 2.2 times to 1.73 billion euros from 801 million euros a year earlier. Adjusted profit increased by 20% to 0.84 billion euros. Revenue for the IV quarter fell by 1% to 4.86 billion. Analysts had expected a profit of 719 million euros, and revenues of 4.87 billion euros. Interest income increased by 0.4% to 2.8 billion euros, UniCredit reports. The fees received by the bank decreased by 1.4%. The bank reduced operating expenses by 2.7% to a mark of 2.7 billion euros. At the end of 2018, UniCredit's profit grew by 13% and reached 6.4 billion euros. UniCredit expects to earn 19.8 billion euros in 2019 and make a profit of 4.7 billion euros.
China’s economy sees quarterly expansion as spending returns14.10.2020
Singapore GDP sees quarterly decline, plunges more than forecasts16.09.2020
Zara's Inditex regains profit after three months due to the coronavirus outbreak30.07.2020
Samsung expects upbeat chip demand, second quarter profit climbs