UniCredit: Q2 profits expected in the €115-449m range
Italy’s bank UniCredit is expected to close the second quarter with €302m profits, according to research by 23 national and international brokers.
According to the research, net profits could fall in a range between €115 and €449m, marking a decrease from the €511m reported during the second trimester of 2011.
Total net profit for 2012 could reach €1.84bn, analysts added. Official data will be published by the Italian bank on August 3.
Meanwhile, Standard & Poor’s Ratings Services reaffirmed its strong rating on UniCredit Credit Management Bank, with stable outlook.
UniCredit Credit Management Bank is a special servicer of residential mortgages, commercial mortgages, and consumer loans in the country.