FRANKFURT--The following is a summary of analysts' forecasts for Intesa Sanpaolo SpA (ISP.MI) fourth-quarter results, based on a poll of eight analysts conducted by Dow Jones Newswires (figures in million euros, dividend and target price in euro, according to IFRS). Earnings figures are scheduled to be released February 5.

=== 
                Net int.   Net comm.    Trading   Net adj. 
4th Quarter       income      income     profit   to loans 
AVERAGE            1,901       1,979         90      1,010 
Prev. Year         2,056       1,813         76      1,043 
+/- in %            -7.5        +9.2        +18       -3.2 
 
MEDIAN             1,903       1,982         90        956 
Maximum            1,915       2,125        110      1,230 
Minimum            1,875       1,853         73        928 
Amount (a)             8           7          6          5 
 
Citi               1,899       2,007         79        947 
Credit Suisse      1,910       1,853        110         -- 
Deutsche Bank      1,915       1,982        102        928 
Kepler Cheuvreux   1,897       2,052         75         -- 
Morgan Stanley     1,892       1,931        100        989 
Societe Generale   1,915       2,125         --      1,230 
 
               Operating         Net 
4th Quarter       margin      profit 
AVERAGE            1,666         135 
Prev. Year         1,773          48 
+/- in %            -6.0        +181 
 
MEDIAN             1,749          74 
Maximum            1,905         327 
Minimum            1,372          51 
Amount (a)             8           8 
 
Citi               1,434          66 
Credit Suisse      1,372          81 
Deutsche Bank      1,861          51 
Kepler Cheuvreux   1,421         150 
Morgan Stanley     1,838          56 
Societe Generale   1,905         286 
 
 
           Target price  Rating                  DPS 2015 
AVERAGE            3.49  positive 7     AVERAGE      0.13 
Prev. Quarter      3.77  neutral  1     Prev. Year   0.07 
+/- in %           -7.5  negative 0     +/- in %      +90 
 
MEDIAN             3.50                 MEDIAN       0.14 
Maximum            3.70                 Maximum      0.15 
Minimum            2.99                 Minimum      0.11 
Amount (a)            8                 Amount          7 
 
Barclays           3.70  Overweight                  0.12 
Citi               3.50  Buy                         0.14 
Credit Suisse      3.30  Outperform                    -- 
Deutsche Bank      3.50  Buy                         0.14 
Kepler Cheuvreux   3.70  Buy                         0.15 
Morgan Stanley     3.50  Overweight                  0.11 
Societe Generale   2.99  Hold                        0.12 
=== 

Year-earlier figures are as restated by the company.

(a) Including anonymous estimates from two more analysts.

DJG/voi 

(END) Dow Jones Newswires

February 03, 2016 08:02 ET (13:02 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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