UniCredit warns of prolonged virus impact after $3 billion loss

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By Valentina Za MILAN (Reuters) - UniCredit forecast next year's profit could fall short by as much as a quarter of its target even if the eurozone economy rebounds strongly from the coronavirus, underscoring the protracted damage from the pandemic. Successful restructuring efforts at the Milan-based bank have suffered a blow due to Italy's coronavirus outbreak, one of the world's deadliest, which is set to plunge the already fragile economy into its worst recession since World War II. UniCredit Chief Executive Jean Pierre Mustier told a media briefing uncertainty was too high to give an...

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