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Intesa Sanpaolo Q3 Profit Rises

Intesa Sanpaolo Group (ISNPY.PK,IITSF.PK) reported that its third-quarter net income rose to 833 million euros from 650 million euros last year.

Operating income amounted to 4.269 billion euros, up 0.6% from last year.

Net interest income was 1.844 billion euros, up 0.9% from the prior year.

In 2018, the Group's net income is expected to grow compared with 2017, excluding from the 2017 net income the 3.5 billion euros public cash contribution that offset the impact on the capital ratios resulting from the acquisition of the Aggregate Set of Banca Popolare di Vicenza and Veneto Banca. An increase in revenues, continuous cost management and a decrease in the cost of risk are envisaged as the drivers of the expected performance of net income. The dividend policy for 2018 envisages the distribution of an amount of cash dividends corresponding to a payout ratio of 85% of net income.

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