UniCredit Second-Quarter Profit Rises on Lower Provisions
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UniCredit SpA’s second-quarter profit rose 12 percent, beating estimates as lower provisions for loan losses and higher income from fees and asset sales offset tax charges.
Net income rose to 403 million euros ($539 million) from 361 million euros a year earlier, Italy’s biggest bank said today. Earnings exceeded the 298.7 million-euro average estimate of nine analysts surveyed by Bloomberg.