UniCredit confirms 2013 cost of risk outlook, sees recovery delay in Italy

MILAN Fri May 10, 2013 10:01am EDT

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MILAN May 10 (Reuters) - UniCredit said on Friday its outlook for slightly lower loan loss provisions this year was confirmed even though a pick-up in economic activity in Italy was likely to come later than previously expected.

"The macro-econOmic pick-up we had hoped for is likely to be delayed," Chief Risk Officer Alessandro Decio told analysts on a conference call.

"Even so we are comfirming our outlook for a lower cost of risk," he said.

(Reporting By Silvia Aloisi; editing by Francesca Landini)

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