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UniCredit: Q3 net profit more than doubles.

(CercleFinance.com) - Italian lender UniCredit more than doubled its profit in Q3, as the group benefitted from a sharp fall in operating costs.

Group preliminary results published this morning show the bank recorded a Q3 net profit of 745 million euros, compared to 361 million euros a year ago.

UniCredit said operating costs fell to 2.8 billion euros, down 4% year-on-year, while it recorded no goodwill impairment over the period.

The group's fully loaded CET1 ratio is expected to exceed 13.5% at end-September, the bank said.

In Milan, UniCredit shares were down 0.2% at 17.1 euros after these figures were released.

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