UniCredit gets little reward for virus caution

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UniCredit gets little reward for virus caution
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UniCredit gets little reward for virus caution LJucca

UniCredit reported on May 6 a first-quarter net loss of 2.7 billion euros, worse than analysts’ expectations of a loss of 1.5 billion euros and a net profit of 1.2 billion euros a year earlier.

Italy’s biggest bank by assets said the loss was chiefly attributable to non-operating items including charges for planned layoffs in Italy and the sale of a stake in Turkish lender Yapi Kredi, the last of a string of asset sales.

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