August 6, 2020

UniCredit climbs back into profit

Milan (AFP) – Italy’s UniCredit bank said Thursday it was back in the black in the second quarter with a net profit of 420 million euros ($500 million), a better-than-expected result that nonetheless was down considerably from last year due to the coronavirus pandemic.A consensus forecast of 19 analysts provided by the bank had expected a net profit of 347 million euros for the April-June period, following a net loss of 2.7 billion euros in the first quarter of the year. For the first half of the year, the bank logged a net loss of 2.28 billion euros dragged down by the first quarter when the …


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