Intesa Sanpaolo archive the first ones nine months of the year with a net profit of 4,006 million euros and approves an interim dividend on the 2021 results. The bank reaches the target three months in advance on the profit that was fixed for the whole 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 based on the results of 2021, for an amount of 1.4 billion euros.
“Despite the difficulties of the pandemic, we are continuing to achieve excellent results. Not exciting, but still excellent, “he commented the managing director of Intesa Sanpaolo, Carlo Messina. The CEO of the group gave some indications on the new strategic plan, which will be presented next February. “I want to create the conditions to generate a sustainable and important growth of net profit“in the new plan” I want to get to the new plan with zero problems related to the cost of risk and impaired loans. “In particular on the NPL front, the bank is evaluating new possible sales. In any case, Messina reiterated, in the plans of Intesa Sanpaolo does not have the hypothesis of large-scale mergers and acquisitions. M&A “is definitely not in the plans possible
“.
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%. THE impaired loans they total 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 Tier 1 at 16.2 %.
Source-www.adnkronos.com