Net profit of the Italian UniCredit bank in II quarter 2013 increased by 113.8% – up to 361 million euros

Net profit of the Italian UniCredit bank in II quarter 2013 increased by 113.8% - up to 361 million eurosNet profit of the Italian banking group UniCredit in the II quarter of 2013 increased by 113.8% – up to 361 million euros, compared with a profit of 169 million euros recorded in the same period in 2012. These data are presented in the report of the bank.

The rate for net income exceeded the forecasts of analysts who predicted that it will amount to 349 million euros. The bank explains the increase in net income of 254 million euros profit from the repurchase of own bonds and lower costs.

UniCredit‘s total revenue in April-June 2013 amounted to 6.4 billion euros – 2.0% higher than the comparative figure of a year ago (6.29 billion euros). Net operating income in the II quarter of this year increased by 48.4% – up to 1.078 billion euros (previous year – 726 million euros).

Core capital adequacy ratio of the first level (Core Tier 1) at the end of the II quarter of this year amounted to 11.41% from 11.03% in the previous quarter and 10.39% – a year ago.

The net profit of the whole UniCredit banking group in 2012 amounted to 865 million euros, while in 2011 the group had a net loss of 9.21 billion euros.

UniCredit – is Italy’s biggest bank by total assets. This is one of the largest banks in Europe, which has operations in 22 countries in Western Europe (Italy, Germany and Austria), Central and Eastern Europe and in the CIS.

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