The bank booked €1.26bn euros ($1.37bn) in provisions for bad loans, up from €467m a year earlier

UniCredit SpA said on 6 May that it will tweak its strategic plan after it swung to a loss in the first quarter as bad-loan provisions soared and expenses related to the implementation of its cost-saving plan hit performance.

The Italian bank booked €1.26bn euros ($1.37bn) in provisions for bad loans, up from €467m a year earlier.

UniCredit swings to Q1 loss as bad-loan provisions soar

Pietro Lombardi 

UniCredit

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