UniCredit SpA

UNCFF: OTCM (USA)
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UniCredit Earnings: Fees Outrun Our Forecast; Net Interest Income Rides on Rates

UniCredit’s third-quarter net profit rose 24% and beat consensus by 17%, though trading gains, dividend income, and a low tax rate did much of the work. Fees grew 11%, and net interest income regained momentum, growing 8% from a year ago after a flat first half as higher rates fed through.

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