Reserve release fluffs UniCredit's Q1 income

UniCredit was helped to its best first quarter in a decade by the release of €320 million ($359 million) of legal provisions freed up after a settlement with US authorities over Iran sanctions. 

The Italian bank posted net profits of €1.4 billion at end-March, up 25% year-on-year. The sale of real estate assets also plumped first-quarter earnings by €258 million. But total revenues dipped 3% year-on-year, to €5 billion.

European Union levies, including mandatory payments to the Single

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: