By Cristina Roca 

Intesa Sanpaolo SpA on Wednesday reported higher-than-expected net profit and operating revenue for the third quarter, and stuck to its earnings guidance for the year despite already having passed the mark it set for itself.

The Italian lender posted a net profit of 983 million euros ($1.14 billion) compared with EUR3.81 billion the previous year, when the bank consolidated UBI Banca and booked badwill from the acquisition of the business. Excluding these effects, the comparable figure would be EUR546 million, according to the bank.

Intesa's net profit for the first nine months of the year came in at EUR4.01 billion. The bank said it continues to expect net profit of more than EUR4 billion for the full year.

Operating income, the bank's main top-line figure, rose 7% to EUR5.09 billion, the bank said.

The results beat analyst views of a quarterly net profit of EUR813.6 million on operating income of EUR4.9 billion, according to a FactSet consensus.

Net interest income--the difference between what lenders earn from loans and pay for deposits--was EUR2 billion, down 6.1% on year.

The bank's board also approved an interim dividend of 7.21 euro cents a share, as expected.


Write to Cristina Roca at


(END) Dow Jones Newswires

November 03, 2021 09:00 ET (13:00 GMT)

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