UniCredit: Third Quarter 2017 Group Results. Transform 2019 delivers tangible results
(WorldNews Italy)

Revenues totalled EUR4.6 bn in 3Q17 (-8.5 per cent Q/Q, -3.9 per cent Y/Y) affected by 3Q seasonality of fees and lower trading. Main contributions to revenues came from Commercial Banking Italy, CEE and CIB. Total revenues amounted to EUR14.8 bn (-2.7 per cent 9M/9M) in 9M17. Net interest income(NII) totalled EUR2.5 bn in 3Q17 (-5.7 per cent Q/Q or -2.4 per cent excluding 2Q17 one-off Commercial Banking Germany of EUR90 m, -3.5 per cent Y/Y). On a quarterly basis, reduced deposit rates (+EUR28 m) and lower cost of term funding (+EUR7 m) partially offset lower loan dynamics (-EUR11 m from lower average volumes and -EUR53 m from the compression of customer rates) combined with higher volumes of deposits (-EUR3...