MILAN (Reuters) – Italy’s second-biggest bank UniCredit raised its 2021 profit and revenue guidance on Thursday after reporting stronger than expected quarterly results thanks to falling loan losses and higher revenues.
UniCredit, which on Sunday walked out of a deal to rescue state-owned rival Monte dei Paschi, posted a net profit of 1.06 billion euros ($1.23 billion) for the three months through September.
That compares with an average forecast of 838 million euros ($975 million) from 23 analysts collected by the bank.
($1 = 0.8618 euros)
(Reporting by Valentina Za; Editing by Agnieszka Flak)
