UniCredit ups Italy lending

Tim Wallace
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UNICREDIT increased lending in Italy in the third quarter, the bank said yesterday, in a sign that the troubled economy could be moving past the worst of its woes.

New loans to households and companies increased to €5.2bn (£4.4bn), up 15.5 per cent in the first nine months of the year, compared with the same period of 2012.

However, profits are still down on the year. The bank made €1bn in the year to date, down 28.5 per cent on the year.