Unicredit: 406 million first quarter profit

Unicredit reports first quarter 2016 with a net profit of 406 million euro (-20.8% compared to the same period of 2015, + 165% on the fourth quarter 2015). The figure is above the expectations of analysts who had expected a profit of 379 million. "The realization of the strategic plan is on schedule: both are already tangible results related to reducing costs, both those related to the digital transformation of the bank".

It underlines the CEO of Unicredit, Federico Ghizzoni in the note to the accounts. The CEO also noted that the "capital ratios confirm the solidity of the Group". After the results of the first quarter, Unicredit gained 2.6% to 3.06 euro, placing itself among the best in the main basket.