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UniCredit ups 2021 guidance after strong quarter -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: UniCredit’s logo, seen in Siena’s Old City Centre, Italy. 29 June 2017. REUTERS/Stefano Rellandini

MILAN (Reuters – Italy’s second largest bank UniCredit increased its revenue guidance and profits for 2021, after posting stronger quarterly results than anticipated thanks to falling loans losses and greater revenues.

UniCredit posted a net profit (or $12.3 billion) of 1.06 Billion Euros ($1.23 Billion) in the three months to September after it pulled out of an agreement to save Monte dei Paschi’s state-owned competitor.

Compare this to the average forecast for 838 million euro ($975million) given by 23 bank analysts.

($1 = 0.8618 euros)

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