ROME (dpa-AFX) - Italian lender UniCredit SpA (UCG, UNCFF.PK) on Thursday reported that its net profit for the fourth quarter surged to 1.73 billion euros from last year's 801 million euros, reflecting positive tax effect of 887 million euros, related to IFRS9 FTA in the quarter.
Excluding positive tax effect, the Group's adjusted net profit was 840 million euros, higher than 701 million euros a year ago.
However, net operating profit for the quarter was down 4.8 percent to 1.2 billion euros.
Total revenues for the fourth quarter slid 1.0 percent to 4.9 billion euros. Net interest for the quarter rose to 2.78 billion euros from last year's 2.64 billion euros.
Looking ahead, the Group said it is confirming its fiscal 2019 net profit target of 4.7 billion euros and a RoTE of above 9 percent, with Group Core RoTE above 10 per cent.
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