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Updated Thursday, March 18, 2010 11:27 am TWN, AFP

Italy's banking giant UniCredit reports 57.6 percent profit plunge

MILAN -- Italy's banking giant UniCredit on Wednesday reported net profit for 2009 down by 57.6 percent at US$2.3 billion due to heavy losses on loans and provisions. Net impairment losses on loans and provisions came to 8.3 billion euros over the year, nearly double the figure for 2008.
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