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Unicredit sees cost of risk at 55-60 bps for full year
November 9, 2017 / 6:26 AM / a month ago

Unicredit sees cost of risk at 55-60 bps for full year

MILAN, Nov 9 (Reuters) - Italy’s biggest bank, UniCredit , forecast on Thursday a cost of risk of between 55 and 60 basis points for the full year as it confirmed that its adjusted third-quarter profit rose 87 percent from a year earlier.

UniCredit had published preliminary third-quarter results on Oct. 24 after accidentally releasing some figures.

Cost of risk, a key factor for Italian banks which have been forced to write down billions of euros of soured loans, stood at 53 basis points in the quarter, UniCredit said. (Reporting by Valentina Za; Editing by Mark Bendeich)

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