UniCredit's quarterly profit exceeded market expectations

The largest bank of Italy, UniCredit, reported that in the first quarter of 2018 net profit rose to 1.1 billion euros, the finversia.ru project wrote with reference to the bank's accounts. Net profit growth was the best result of the bank since 2007 due to lower than expected losses on loans. The indicator exceeded the expectations of the analysts, who had predicted it at 766 million euros. Quarterly revenues amounted to 5.1 billion euros, increased by 4% compared to the previous quarter. At the same time, net interest income of the bank showed a slight decrease. The write-offs on loans fell to 496 million euros.

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