UniCredit Looking to Raise $14 Billion in Latest Bid to Restore Profitability

[kreslik.news]

UniCredit, the largest Italian lender, is facing an uphill climb to returning to profitability in the New Year, with its latest efforts to raise cash via public funds coming up short. The bank is reportedly seeking upwards of $14 billion in cash to help fund a turnaround after earlier cost-cutting measures have come up short, per a Bloomberg report.

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The turning of the page to the 2017 calendar year has hardly been a panacea for European banks, with many leading players still facing dire straits and ... (read more)