UniCredit: best first quarter in a decade; targets confirmed
(CercleFinance.com) - UniCredit beat expectations on Thursday when it reported its best first-quarter results in a decade, with the group also confirming its targets.
The most internationally-exposed and biggest of Italy's banks said its net profit rose by almost 25% to 1.4 billion euros in the first three months of the year.
The Italian lender also confirmed that it is well on track to achieve its "Transform 2019" objectives by the end of the year.
Last Tuesday, UniCredit announced the disposal of a 17% stake in Italian online broker Fineco, which is the first step of its new 2020-2023 business strategy which will be presented in December.
While analysts at UBS cheered "solid earnings and capital," the UniCredit share is currently trading 1% lower at 11.3 euros in Milan.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The most internationally-exposed and biggest of Italy's banks said its net profit rose by almost 25% to 1.4 billion euros in the first three months of the year.
The Italian lender also confirmed that it is well on track to achieve its "Transform 2019" objectives by the end of the year.
Last Tuesday, UniCredit announced the disposal of a 17% stake in Italian online broker Fineco, which is the first step of its new 2020-2023 business strategy which will be presented in December.
While analysts at UBS cheered "solid earnings and capital," the UniCredit share is currently trading 1% lower at 11.3 euros in Milan.
Copyright (c) 2019 CercleFinance.com. All rights reserved.