UniCredit Realized Profit Of 5,45 Billion Euros

The Italian banking group UniCredit today informed about 61-percent growth of a profit to 5.45 billion euros in the last year

Only in the fourth quarter, the profit tripled to 893 million euros in relation to the same period of the former year, as according to bank´s announcement.

Profit growth in the bank is mostly related to the increased volume of credit financing in Italy and a larger income achieved by the business activities in the area of middle and eastern Europe.

UniCredit´s acquisition of Germany HVB bank and its branch office the Austria Banka classified that Italian bank is the top of banking sector in middle and eastern Europe. Announcing the business results on the Milanese Stock Exchange on Thursday, the banks stocks got on the value 2.1 percent on 6.95 euros. Market capitalization of  the bank is currently 73 billion euros.

Italian banking group announced that it could consider acquisitions in Italy after their local competitors participated last year in record 85 billion dollar valuable connectings.

The UniCredit managing board will request of the shareholders the approval of issuing 1,05 billion of new stocks, as regards 10 percent of bank´s capital, during the next five years, the bank in separate announcement reported.