Finance
UniCredit Lifts Revenue Goal as Fee Strategy Starts Pay Off
- Full year net revenue target raised to above €23 billion
- Fee income grew 10% from a year earlier, aiding profit
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UniCredit SpA raised its full-year target for net revenue after higher income from fees and lending helped the bank’s second quarter profit top analyst estimates.
Net income at Italy’s second-biggest lender rose 16% to €2.68 billion ($2.9 billion), beating estimates. The Milan-based bank increased its guidance for revenue after loan-loss provisions to above €23 billion, it said in a statement on Wednesday.