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BRIEF-Unicredit Q3 Underlying Net Profit At EUR 0.7 Bln, CET1 At 14.41%

Nov 5 (Reuters) - UniCredit SpA:

* Q3 TOTAL REVENUE EUR 4.4 BILLION VERSUS EUR 4.2 BILLION AVERAGE FCAST IN COMPANY-PROVIDED CONSENSUS

* Q3 UNDERLYING NET PROFIT EUR 0.7 BILLION

* FULLY-LOADED CET1 RATIO AT 14.41% AT END-SEPT VS 13.85% AT END-JUNE

* GROSS NON-PERFORMING EXPOSURE RATIO AT END-SEPT 4.7% VS 4.8% AT END-JUNE

* NPE COVERAGE RATIO AT END-SEPT 61.3% VS 62.7% AT END-JUNE

* Q3 NET INTEREST INCOME EUR 2.30 BILLION VERSUS EUR 2.3 BILLION AVERAGE FCAST IN COMPANY-PROVIDED CONSENSUS

* Q3 NET FEES EUR 1.47 BILLION VERSUS EUR 1.5 BILLION AVERAGE FCAST IN COMPANY-PROVIDED CONSENSUS

* Q3 NET LOAN WRITEDOWNS EUR 741 MILLION VERSUS EUR 1.1 BILLION AVERAGE FCAST IN COMPANY-PROVIDED CONSENSUS

* TARGET OF UNDERLYING NET PROFIT OF 3.0-3.5 BILLION EUROS IN 2021 CONFIRMED

* TEAM 23 CAPITAL DISTRIBUTION POLICY OF 50 PER CENT ORDINARY PAYOUT WITH GRADUAL RETURN OF EXCESS CAPITAL TO BE REINSTATED IN 2021 FOR FY20 ONWARDS

* CONFIRMS TARGET OF UNDERLYING NET PROFIT OF OVER 0.8 BILLION EUROS IN 2020

* ON TRACK TO ACHIEVE TARGET OF UNDERLYING ROTE AT 5.4% IN 2020

* CONFIRMS TARGET OF UNDERLYING ROTE BETWEEN 6% AND 7% IN 2021

* UNICREDIT CEO SAYS CONFIRMS FY21 STATED COST OF RISK TARGET AT BOTTOM END OF 70 TO 90 BASIS POINTS RANGE WITH UNDERLYING COST OF RISK5 CLOSE TO 60 BASIS POINT

* Q3 TRADING INCOME EUR 455 MILLION

* Q3 TRADING INCOME EUR 455 MILLION, UP 27.7% Q/Q AND 10.2% YEAR/YEAR

* UNICREDIT CEO SAYS GROUP HAS IMPROVED GROSS SAVINGS TARGET IN 2023 PLAN TO EUR 1.25 BILLION Source text for Eikon: Further company coverage: (Gdansk newsroom)

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