Global banking and financial services firm UniCredit has completed its first Italian transaction in on we.trade blockchain-based trading platform. Via we.trade blockchain-based trading platform, which is claimed to be the […]
Unicredit, Italy’s largest bank by assets, posted a stronger-than-expected net profit in the second quarter of the year thanks to lower costs and a drop in loan-loss charges.
Net profit came in at 945 million euros, well above a consensus forecast of 676 million euros distributed by the bank and also helped by a positive one-off item in Germany. Revenues for the second quarter fell 7.8 percent year-on-year to 4.85 billion euros. Net Interest Income (NII) totaled €2.7 billion.
Suspected hackers have accessed client data of Italy’s biggest lender, UniCredit, in two attacks over the past 10 months which affected around 400,000 Italian customers, the most serious hack ever reported by a major Italian lender.
The Milan-based bank blamed a “third party provider” for the two data breaches it discovered, which it said happened between September and October 2016 and again between June and July of this year.
Italy’s biggest bank, UniCredit, announced plans on Tuesday to slash 14,000 jobs and raise billions of euros in fresh capital as fears of a banking and political crisis grip the country.
The bank, one of the worst performers in European bank stress tests, confirmed it would need to seek 13 billion euros ($13.8 bn) in fresh capital from investors despite political instability in Italy and the nation’s third-largest bank scrambling to avoid a government-led rescue.
The bank plans to use the record rights issue to help remove almost €18bn of bad debt from its balance sheet and boost profitability.
UniCredit also plans to close about a quarter of its 3,800 branches.
