logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Best Buy Co., Inc. is offering more tech deals at Black Friday prices starting Thanksgiving. Further, Cyber Monday offers will be available all week long, starting Saturday, November 28. The electronics retailer said the Thanksgiving offers for brands such as Apple, Dyson, KitchenAid and more will be available at BestBuy.com since its stores are closed for the day. Walt Disney Co. plans to lay off 32,000 workers in the first half of fiscal 2021 as the media and entertainment giant struggles to operate amid the worsening coronavirus pandemic. In a filing with the Securities and Exchange Commission, the company said the expected cuts will be primarily at Parks, Experiences and Products. Supermarket chain Whole Foods Market, owned by e-commerce giant Amazon, has recalled packaged popcorn chicken with sweet chili sauce citing the possible presence of undeclared shellfish or shrimp, an allergen, the U.S. Food and Drug Administration said. The affected products were sold across 26 Whole Foods Market locations in Northern California and Reno, Nevada.
Follow RTT