The Italian banking group reported an underlying net profit of €900m for Q1 2021 thanks to a rebound in revenues, despite a decrease in issuance and sales of structured products.

Unicredit has posted revenues of €4.7 billion for the first quarter of 2021, an increase of 7.1% compared to the equivalent quarter in 2020. The rise was driven by ‘a notable uptick in fees and trading,’ according to chief executive officer Andrea Orcel ( pictured ). Trading income for the quarter was €639m, up €466m from Q1 2020, with client driven trading income up 87.1% year-on-year (YoY), thanks to a strong performance in fixed income. Non-client driven trading in

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