ISNPY Intesa Sanpaolo SPA (PK)

   By Pietro Lombardi 
 

Intesa Sanpaolo SpA's (ISP.MI) fourth-quarter net profit declined but was slightly above analysts' expectations.

Net profit for the quarter was 1.04 billion euros ($1.19 billion), the Italian bank said Tuesday. This compares with a net profit of EUR1.43 billion a year earlier, when the results included an EUR811 million gain from the disposal of Intesa's stake in Allfunds.

Analysts had expected a net profit of EUR1 billion, according to a consensus forecast provided by FactSet.

Net profit for the year was EUR4.05 billion.

Intesa said its proposed cash dividends stand at EUR3.45 billion, which represents a payout ratio of 85%, as indicated in its plan.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

February 05, 2019 07:50 ET (12:50 GMT)

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