Unicredit - 1Q16 net profit of € 406 m ( $ 462 m ) , down from € 512 m ( $ 583 m ) previously , due mainly to restructuring costs in Italy and Austria which were € 259 m ( $ 270 m ) ; however , it improved forecasts due to lower costs and falling loan loss rates . However, all revenue streams posted lower results in comparison with the corresponding quarter of last year. The results may provide welcome relief for its CEO Federico Ghizzoni who is facing shareholder discontent and talk of possible management changes due to a weak share performance and lower earnings than Intesa had .
Unicredit - 1Q16 net profit of € 406 m ( $ 462 m ) , down from € 512 m ( $ 583 m ) previously , due mainly to restructuring costs in Italy and Austria which were € 259 m ( $ 270 m ) ; however , it improved forecasts due to lower costs and falling loan loss rates . The results may provide welcome relief for its CEO Federico Ghizzoni who is facing shareholder discontent and talk of possible management changes due to a weak share performance and lower earnings than Intesa had .