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.

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