UniCredit Expects FY 2016 Net Loss of EU11.8B

UniCredit, an Italian lender, announced a significant loss of €11.8 billion for 2016, primarily due to negative nonrecurring items and a write-down of its Atlanta Fund investment. The market reacted negatively, with shares dropping by 5%. The European Central Bank (ECB) has demanded an improved plan for handling bad loans by February 28th. UniCredit plans a €13 billion capital raise to cover these losses and reset its financial standing. The Atlanta Fund, an industry initiative to support banks in need, is part of the additional losses reported.

What was the reported loss for UniCredit in 2016?

What impact did the negative nonrecurring items have on UniCredit's financial results?

What was the expected capital raise amount for UniCredit to cover its losses?

What was the market value of UniCredit mentioned in the text?

What is the significance of the Atlantic Fund in relation to UniCredit?