Intesa Sanpaolo: Q2 earnings leap.
(CercleFinance.com) - Boosted by an injection of 3.
5 billion euros from the Italian state, Intesa Sanpaolo reported Q2 earnings of 4.34 billion euros.
Excluding the impact of this injection, which directly contributed to the rescue of the Italian banking sector and which aimed at offsetting the repercussions of the purchase of some of Popolare di Vicenza and Veneto Banca's healthy assets, earnings fell by 7% relative to the period April-June 2016 to 837 million euros. However, this result is much higher than the consensus of 675 million euros.
The pro-forma CET1 equity ratio reached 13%, one of the highest levels amongst major European banks.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
5 billion euros from the Italian state, Intesa Sanpaolo reported Q2 earnings of 4.34 billion euros.
Excluding the impact of this injection, which directly contributed to the rescue of the Italian banking sector and which aimed at offsetting the repercussions of the purchase of some of Popolare di Vicenza and Veneto Banca's healthy assets, earnings fell by 7% relative to the period April-June 2016 to 837 million euros. However, this result is much higher than the consensus of 675 million euros.
The pro-forma CET1 equity ratio reached 13%, one of the highest levels amongst major European banks.
Copyright (c) 2017 CercleFinance.com. All rights reserved.