UniCredit Quarterly Profit Surges on Lower Costs, One-Time Gain

August 3, 2016 11:55 AM

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UniCredit SpA, a globally important bank under pressure to raise capital, said second-quarter profit rose 75 percent on lower operating costs and one-time gains from an asset sale.

Net income rose to 916 million euros ($1 billion) from 522 million euros a year earlier, the Milan-based lender said on Wednesday. Earnings beat the 719 million-euro average of 11 analyst estimates compiled by Bloomberg. UniCredit posted a capital gain of 216 million euros from the sale of its stake...

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