Intesa Sanpaolo 1Q Net Profit Fell, But Beat Expectations
May 07 2019 - 7:47AM
Dow Jones News
By Pietro Lombardi
Intesa Sanpaolo SpA's (ISP.MI) first-quarter net profit fell
significantly, but beat analysts' expectations.
Net profit for the period was 1.05 billion euros ($1.18 billion)
compared with EUR1.25 billion a year earlier, the Italian bank said
Tuesday.
Operating income fell to EUR4.39 billion from EUR4.81
billion.
Analysts had seen the bank's net profit at EUR890 million on
operating income of EUR4.31 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 EUR1.76 billion compared with EUR1.85 billion a year
earlier.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
May 07, 2019 07:32 ET (11:32 GMT)
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