MILAN (Reuters) – UniCredit has made a slight upward revision to its guidance for this year’s net interest income (NII) excluding Russia after changes to the terms of the European Central Bank’s Targeted Longer-term Refinancing Operations (TLTRO).
Italy’s No.2 bank, which previously forecast 2022 NII of more than 9.6 billion euros ($9.54 billion) excluding Russia, on Monday said it now expects more than 9.7 billion euros, including a full-year TLTRO-positive contribution of about 400 million euros.
($1 = 1.0059 euros)
(Reporting by Federico Maccioni; Editing by David Goodman)
