BNP Paribas on Thursday reported a jump in fourth-quarter net profit as the French bank climbs back from a record US fine for sanctions violations last year, but warned that higher taxes and a weak economy may dent earnings in 2016.

France's largest listed bank by assets said net profit rose to €1.3 billion ($1.48 billion) in the three months through December, compared with €110 million a year earlier when it set aside a provision of €798 million to cover potential US penalties.