May 9, 2019 / 5:29 AM / in 10 days

Italy's UniCredit confirms 2019 targets after Q1 results

MILAN, May 9 (Reuters) - Italy’s biggest bank by assets UniCredit stuck to its targets for 2019 after posting a net profit of 1.39 billion euros, up 24.7 percent from a year earlier and above analyst expectations.

The bank, which will present a new business plan in December, said revenues came in at 4.95 billion euros, declining by 3 percent on an annual basis.

UniCredit said in a statement that the current turnaround plan was “well on track” and confirmed a core capital target of between 12 percent and 12.5 percent for 2019.

Reporting by Gianluca Semeraro; editing by Silvia Aloisi

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