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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Unicredit Spa | BIT:UCG | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.49 | -1.40% | 34.58 | 34.51 | 34.82 | 35.25 | 34.54 | 35.095 | 8,234,527 | 17:00:00 |
From May 2019 to May 2024
By Pietro Lombardi
UniCredit SpA's (UCG.MI) fourth-quarter net profit soared as the bank reported an extraordinary positive tax effect.
Net profit for the period was 1.73 billion euros ($1.97 billion) compared with EUR801 million a year earlier, it said Thursday.
On an adjusted basis, net profit grew 20% on year to EUR840 million.
The bank reported a EUR887 million extraordinary positive tax effect in the quarter.
Revenue fell 1% on year to EUR4.86 billion.
Analysts had expected a net profit of EUR719 million on revenue of EUR4.87 billion, according to a consensus forecast provided by the bank.
Operating costs declined 2.7% and loan-loss provisions rose 11% in the final quarter of last year.
The bank said it would propose a dividend of EUR0.27 per share.
"UniCredit has delivered a record performance in 2018, with the best results in a decade," Chief Executive Jean Pierre Mustier said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
February 07, 2019 01:34 ET (06:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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