Banca Mps reported a surge in net profit to €1.35 billion in the fourth quarter, bolstered by tax credits gained through the integration of Mediobanca.

The consolidated net profit for the fourth quarter, excluding the Mediobanca group, reached €1.384 billion, according to a company statement.

Total revenues for the quarter amounted to €1.903 billion, marking a 2% increase compared to the previous quarter. EBITDA was supported by a 4.9% quarter-on-quarter rise in net fees.

The bank distributed over €2.6 billion in dividends, equivalent to €0.86 per share, with a dividend yield of 10%.

The bank plans to present the industrial plan for the business combination with Mediobanca on February 27.

(Stefano Bernabei, editing by Antonella Cinelli)