Unicredit Q2 the Italy earnings more than triple

MILAN (AP) - most big bank UniCredit SpA, Italy, said Wednesday that second-quarter net profit more than tripled even though revenues were hit by its exposure to Greek debt.The Group of Milan said Wednesday that net income increased by euro511 million euro148 million per year ($731 million). The rise came despite losses from its holdings of the obligations of the Greek Government. Without those losses, UniCredit says he would have posted a net profit of euro616 million.UniCredit is a depreciation euro105 on Greek debt million last month. "We live in very difficult conditions,"CEO federeico ghizzoni said in a conference call."A more detailed breakdown of the figures shows net of that UniCredit trade income during the quarter rose five times to euro290 million from euro58 million a year earlier. And provisions for losses on loans fell 31% to euro1.18 billion in the quarter from a year earlier.Offsetting these gains were a 3.4 fall in net costs and the commission to euro2.1 billion and to a decline of 1.3% net interest fell to euro3.9 billion.Report of Core Tier 1 of the Bank – a key measure - force capital rose to 9.12%. The Bank spent a stress test last month, showing that his ration of Core Tier 1 would remain above the threshold of 6% in the worst case.UniCredit share rose 3.5 percent to euro1.16 after the publication of the results. They had fallen earlier in the day by as much as 4.6%, to euro1.13, on fears that the debt crisis spreads in Italy.