UniCredit Says Second-quarter Net Profit Soars 75% To 916 Mn Euros

UniCredit says second-quarter net profit soars 75% to 916 mn euros

   MILAN, (Pakistan Point News - 3rd August, 2016) - UniCredit, Italy's largest bank, said Wednesday its net profit soared 75 percent to 916 million Euros ($1.0 billion) on increased revenues and cost cutting measures. Meanwhile the bank, which has been offloading assets to strengthen its capital base, also announced it had sold its credit card processing business in Italy, Germany and Austrial to the Sia group for 500 million euros.