UniCredit 4Q Net Profit Beat Expectations -- Earnings Review
07 Febrero 2019 - 4:21AM
Noticias Dow Jones
By Pietro Lombardi
UniCredit SpA (UCG.MI) reported results for the fourth quarter
and full-year on Thursday. Here's what you need to know:
NET PROFIT: Net profit for the period was 1.73 billion euros
($1.97 billion) compared with EUR801 million a year earlier. The
bank reported a EUR887 million extraordinary positive tax effect in
the quarter. Even excluding the one-time, non-cash tax effects
related to the adoption of the IFRS 9 accounting standards, the
lender's net profit stood at EUR840 million, exceeding expectations
for net profit of EUR719 million, according to a consensus forecast
provided by the bank.
REVENUE: Revenue fell 1% on year to EUR4.86 billion. This
compares with expectations of EUR4.87 billion, according to the
consensus.
WHAT WE WATCHED:
-REVENUE STREAMS: Net interest income rose 4.9% on year in the
fourth quarter while net fees and commissions declined 1.4%
-CAPITAL: The Italian bank's fully-loaded CET 1 ratio stood at
12.07% in the fourth quarter.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
February 07, 2019 05:06 ET (10:06 GMT)
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