- Italy’s biggest bank, accidentally emailed its third-quarter results to investors and analysts on Monday over two weeks ahead of schedule.
- The bank accidentally released financial results late on Monday afternoon by uploading to its website a table of historical figures with “hidden but accessible” figures.
- The bank’s preliminary Q3 results have now been published in full.
LONDON — Unicredit, Italy’s biggest bank, accidentally emailed its third-quarter results to investors and analysts on Monday, more than two weeks ahead of schedule.
The bank had intended to publish preliminary results for the quarter on November 8, but accidentally released financial results late on Monday afternoon by uploading to its website a table of historical figures with “hidden but accessible” figures pertaining to its third-quarter performance.
It then circulated the same table by email to analysts and investors.
A statement released by Unicredit on Monday morning said: “UniCredit hereby informs that in the late afternoon of 23 October 2017, a table containing a recast of Group historical financial results was uploaded on the UniCredit website.
“The table included preliminary and incomplete … figures contained in two columns which were hidden, but accessible. Having realised the erroneous publication of data, UniCredit promptly removed the two columns in the table.”
“The same erroneous table was sent via email to investors and financial analysts. All recipients were informed about the erroneous data by email.
“Given the above, the Board of Directors of UniCredit has been immediately called for the morning of 24 October 2017 in order to acknowledge … preliminary results and proceed with the disclosure of such preliminary results before market opening at 9 a.m., Milan time [7 a.m. GMT].”
The bank’s preliminary Q3 results have now been published in full. It showed net operating profit rose 34% year-on-year to €1.2 billion (£1.07 billion) while net profit before tax rose 45% to €926 million (£825 million).
Other major European banks including Deutsche Bank and UBS publish third-quarter results later this week.