Unicredit: forecasts raised after a record Q1

(CercleFinance.com) - UniCredit has announced record Q1 results on Wednesday, raising its annual forecasts, which resulted in its share jumping about 6% in Milan.


The Italian bank posted net profit of E2.1bn for January-March, streets ahead of profit of just E274m a year ago.

The consensus, provided by the bank itself, was looking for net profit of E1.3bn.

Net banking income rose by 18% to E5.93bn, again exceeding the consensus of E5.2bn.

At E3.3bn, net interest income jumped 43% y-o-y, while analysts were expecting around E3bn.


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