Intesa Sanpaolo Expects Growing Revenue, Profit in 2020; 4Q Net Profit Fell
2020年2月4日 - 10:01PM
Dow Jones News
By Pietro Lombardi
Intesa Sanpaolo SpA (ISP.MI) said that its fourth-quarter net
profit fell from a year earlier, when results included a
significant capital gain, and that it sees growing revenue and
profits for this year.
Net profit for the period was 872 million euros ($965.1
million), the Italian bank said Tuesday. For the same period last
year, it posted a net profit of EUR1.04 billion, which included a
capital gain of EUR443 million related to its partnership with
Intrum.
Operating income, the bank's top line, rose to EUR4.57 billion
from EUR4.18 billion, boosted by growing fees, income from
insurance business and trading income.
Analysts had forecast a net profit of EUR769.5 million on
revenue of EUR4.40 billion, according to a consensus forecast
provided by FactSet.
Net interest income--the difference between what lenders earn
from loans and pay for deposits, and a key profit driver for retail
banks--was slightly up on year.
Higher revenue and lower operating costs should allow the bank
to post higher profit this year, it said.
The bank said it would pay a dividend of 19.2 European cents a
share for 2019, corresponding to a payout ratio of 80%. For 2020,
the cash dividend should be equal to a payout ratio of 75%, it
said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
February 04, 2020 07:46 ET (12:46 GMT)
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