ROME (dpa-AFX) - UniCredit S.p.A. (UCG, UNCFF.PK) reported first quarter net profit of 887 million euros compared to a loss of 2.7 billion euros, prior year. Underlying net profit was 0.9 billion euros compared to a loss of 0.2 billion euros.
First quarter revenues were 4.7 billion euros, up 7.1 percent with stronger fees and trading more than offsetting lower NII. The largest revenue contributions came from Commercial Banking Italy, Corporate and Investment Banking and CEE. Net interest income declined to 2.2 billion euros from 2.5 billion euros.
UniCredit expects fiscal 2021 underlying net profit broadly in line with previous guidance with revenues broadly in line with the consensus.
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