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UniCredit swings to Q4'17 profit from year-ago loss

Italian lender UniCredit SpA reported fourth-quarter 2017 adjusted net profit of €708 million, compared to an adjusted net loss of €352 million in the year-ago period.

Stated net profit for the last quarter of 2017 was €801 million.

For full-year 2017, adjusted net profit came in at €3.71 billion, up from an adjusted net profit of €1.30 billion in 2016.

More details to follow.