MILAN, March 18 Fitch Ratings said on Tuesday it
believed UniCredit will be able to report
significantly lower loan impairment charges this year as
impaired loans stabilise following a balance sheet clean-up.
UniCredit posted a record 14 billion-euro loss on March 11
due to huge writedowns on bad loans and past acquisitions as it
moved to clean up its balance sheet ahead of an industry-wide
health check by European regulators.
In a statement on Italian banks, the ratings agency said
UniCredit, Italy's largest bank by assets, was more rigorous
than many peers in raising provisions for its problem exposures.
"This should help the group as it tries to turn around its
consistently loss-making Italian franchise," it said.
Fitch also said Intesa Sanpaolo's results, due next
week, will likely confirm that the country's biggest retail bank
has stronger capital and income generation than domestic peers.
For the full Fitch statement on Italian banks, please click
(Reporting by Danilo Masoni, editing by Stephen Jewkes)