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UniCredit posts 2.8 bln euro Q3 net profit thanks to Pioneer sale
October 24, 2017 / 6:49 AM / in 25 days

UniCredit posts 2.8 bln euro Q3 net profit thanks to Pioneer sale

MILAN, Oct 24 (Reuters) - Italy’s biggest bank UniCredit reported on Tuesday a third-quarter net profit of 2.82 billion euros ($3.32 billion) boosted by the sale of its Pioneer asset manager.

UniCredit said it had brought forward the publication of its third-quarter results after accidentally releasing some figures relating to the July-September period on Monday afternoon both on its website and in an email to investors and analysts.

It was due to publish third-quarter earnings on Nov. 9.

Excluding the Pioneer sale and another one-off item, UniCredit’s third-quarter net profit totalled 838 million euros in July-September, compared with 447 million euros in the same period a year ago.

The bank said fees rose 4 percent from a year earlier, though they fell 8 percent quarter-on-quarter. UniCredit’s net interest and trading income fell both on a quarterly and yearly basis. ($1 = 0.8506 euros) (Reporting by Valentina Za, editing by Stephen Jewkes)

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