Intesa Sanpaolo 3Q Net Profit Exceeds Expectations -- Earnings Review
05 Noviembre 2019 - 8:16AM
Noticias Dow Jones
By Pietro Lombardi
Intesa Sanpaolo SpA (ISP.MI) reported third-quarter results on
Tuesday. Here's what you need to know:
NET PROFIT: The bank's net profit for the period rose to 1.04
billion euros ($1.16 billion) from EUR833 million a year earlier,
exceeding analysts' expectations of EUR908 million.
REVENUE: Operating income--the bank's top-line figure--rose to
EUR4.52 billion from EUR4.27 billion, surpassing expectations of
EUR4.26 billion.
WHAT WE WATCHED:
-REVENUE STREAMS: Net interest income fell to EUR1.74 billion
from EUR1.84 billion. Fees and commissions, as well as income from
insurance activities, rose.
-OUTLOOK: The bank expects net profit for the year to be higher
than the previous year. This is "a result of growth in revenues,
continuous reduction in operating costs and decrease in the cost of
risk," the bank said. It will pay shareholders cash dividends
corresponding to a payout ratio of 80% of net income.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
November 05, 2019 09:01 ET (14:01 GMT)
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