UNCFF Unicredito SPA (PK)

By Pietro Lombardi

UniCredit SpA (UCG.MI) reported third-quarter results on Thursday. Here's what you need to know:

NET PROFIT: The bank posted better-than-expected third-quarter net profit at 1.10 billion euros ($1.22 billion) compared with a profit of EUR29 million a year earlier. Last year, an impairment related to the lender's stake in Turkish bank Yapi Kredi and provisions hit the results. Analysts had forecast a net profit of EUR1.03 billion.

REVENUE: Revenue rose 1.7% to EUR4.70 billion, beating expectations of EUR4.58 billion.

WHAT WE WATCHED:

-REVENUE STREAMS: Revenue was boosted by higher fees and trading income, which offset a 5% decline in net interest income.

-CAPITAL: The bank's core tier 1 ratio rose to 12.6% in September, up from 12.1% in June.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

November 07, 2019 07:25 ET (12:25 GMT)

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