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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 1.04 billion euros from 833 million euros in the same quarter last year.

Net interest income was 1.74 billion euros, down 5.6% from 1.84 billion euros in the previous year. But, net fee and commission income was 1.99 billion euros up 1.6% from 1.96 billion euros in the prior year.

In 2019, the company expects net income to grow compared with 2018 as a result of growth in revenues, continuous reduction in operating costs and decrease in the cost of risk. The dividend policy for 2019 envisages the distribution of cash dividends corresponding to a payout ratio of 80% of net income.

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