Italian bank Intesa Sanpaolo (ISNPY.PK,IITSF.PK) reported Friday that second-quarter consolidated net income declined to 1.33 billion euros from last year's 1.51 billion euros.
Operating income amounted to 5.35 billion euros, 3.3 percent higher than last year's 5.18 billion euros.
Net fee and commission income of 2.25 billion euros was down 4.8 percent from prior year's 2.36 billion euros.
For 2022, the company continues to expect net income of more than 4 billion euros assuming no critical changes to commodity / energy supplies; and net income well above 3 billion euro even assuming, on a very conservative basis, a coverage of around 40 percent on the Russia-Ukraine exposure, which implies the transfer of most of the exposure to Stage 3.
In the prior year, net income was 4.19 billion euros.
Further, the company said the formula of the 2022-2025 Business Plan and, specifically, the 2025 net income target of 6.5 billion euros are confirmed.
The company also announced that the Board of Directors plans the distribution of a cash interim dividend of at least 1.1 billion euros on the 2022 results.
In Italy, Intesa Sanpaolo shares were trading at 1.75 euros, up 2.65 percent.
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