The Italian banking group reported an underlying net profit of €1.1 billion for Q2 2021 as it made ‘significant’ early progress in simplifying the business, according to chief executive officer Andrea Orcel (pictured).

Unicredit has posted revenues of €4.4 billion for the second quarter of 2021, an increase of 5.5% compared to the same  quarter in 2020. The Italian group’s trading income increased to €425m, up 19.1% from the same  quarter last year, with client driven trading contributing €352m. Non-client driven trading income was down 48.2% year-on-year (YoY), mainly due to treasury. Revenues from dividends, at €125m, were up 102% YoY, with positive contribution from bot

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