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Italy's Unicredit bounces back
8,604 Views • May 13, 2014
Description
The bank beat analysts’ expectations with a profit increase of nearly 60 percent.
UniCredit CEO Federico Ghizzoni has been cutting costs and reducing riskier assets, as the European Central Bank reviews lenders across the continent before taking over banking supervision in November.
The bank posted a record loss of more than 14 billion euros, the biggest ever for an Italian lender.
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