Intesa Sanpaolo, net profit rises 4 billion

Intesa Sanpaolo closes the first nine months of the year with a net profit of 4,006 million euros and approves an interim dividend on the 2021 results. full year, a result down by 37.2% compared to the first nine months of 2020 but up by 28.7% excluding the provisional negative goodwill originating from the acquisition of Ubi Banca. The board of directors therefore approved the distribution of 7.21 euro cents per share as an interim dividend on the results of 2021, for an amount of 1.4 billion euro. “Despite the difficulties of the pandemic, we are continuing to achieve excellent results. Not exciting, but excellent nonetheless,” commented the CEO of Intesa Sanpaolo, Carlo Messina. The CEO of the group has given some indications on the new strategic plan, which will be presented next February. “I want to create the conditions to generate sustainable and important growth in net profit” in the new plan “I want to arrive at the new plan with zero problems related to the cost of risk and non-performing loans”. In particular on the NPL front, the bank is evaluating new possible disposals. In any case, Messina reiterated, Intesa Sanpaolo’s plans do not include the hypothesis of large-scale mergers and acquisitions. The M&A “is absolutely not in the possible plans”. On the front of the accounts for the first three quarters, net commissions amounted to 7,008 million, up by 11.5%, while net interest to 5,946 million, down 4.2%. Non-performing loans totaled 9,141 million, down by 14.9% from the end of 2020. Among the capital ratios, the Common Equity Tier 1 ratio stood at 14.3% from 14.7% at the end of 2020 and the Tier 1 at 16.2%.