Italy's biggest bank mistakenly releases earnings data

Italy's largest bank, UniCredit, has released preliminary earnings two weeks early after acknowledging that it had erroneously disclosed some data.

Posted: Oct 24, 2017 8:10 AM
Updated: Oct 24, 2017 5:11 PM

MILAN (AP) - Italy's largest bank, UniCredit, has released earnings figures two weeks early after acknowledging that it had erroneously disclosed some data.

The bank said Tuesday that a table of preliminary and incomplete earnings was uploaded onto its website inadvertently and emailed erroneously to investors and financial analysts Monday. The errors were corrected by removing the data and informing recipients of the data of the mistake.

UniCredit said the figures show operating income fell 4 percent to 4.6 billion euros ($5.4 billion), while net interest income dropped 3.5 percent to 2.5 billion euros and net fees and commissions rose 4.2 percent to 1.6 billion euros.

Shares in the bank dropped slightly before recovering to be up 1.5 percent at 17.38 euros.

Full earnings are due for release on Nov. 7.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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