UniCredit ups 2021 guidance after strong quarter
© Reuters. FILE PHOTO: The UniCredit bank logo in the old city centre of Siena, Italy, June 29, 2017. REUTERS/Stefano Rellandini
MILAN (Reuters) – Italy’s second-biggest bank UniCredit raised its 2021 profit and revenue guidance on Thursday after reporting stronger than expected quarterly results thanks to falling loan losses and higher revenues.
UniCredit, which on Sunday walked out of a deal to rescue state-owned rival Monte dei Paschi, posted a net profit of 1.06 billion euros ($1.23 billion) for the three months through September.
That compares with an average forecast of 838 million euros ($975 million) from 23 analysts collected by the bank.
($1 = 0.8618 euros)
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