Turin (dpa -Afx) – The Italian large bank Intesa Sanpaolo started with even more profit into the year than expected. Despite a declining interest surplus, the yields were slightly higher than a year earlier. The profit even rose by 14 percent to 2.6 billion euros, as the money house announced in Turin on Tuesday. Bank boss Carlo Messina sees Intesa Sanpaolo on course to increase the profit in the current year as planned to well over 9 billion euros.
However, the news was not approved on the stock exchange. Shortly after the bank published its business figures at lunchtime, the course sagged up to two and a half percent. The bank had exceeded the average expectations of analysts for income and profit. Finally, the paper reduced the minus to 1.2 percent.
The interest surplus went as a result of the sunken key interest rates in the Euro zone Eight percent back, but revenues from commissions and fees as well as other income made up for this. As a result, the total income of the bank grew by half a percent to around 6.8 billion euros. In addition, the management covered a little less money for impending loan losses than a year earlier and was able to easily reduce its operating costs./Stw/Men/jha/
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