Intesa Sanpaolo said Friday that
it had posted a massive loss of 5.19 billion euros in the fourth
quarter of 2013.
Still, Intesa stock jumped as much as 5% Friday morning
after the lender forecast it will post a profit of 4.5 billion
euros by the end of 2017, on top of dividend payouts of 10
billion euros in the 2014-2017 period, according to a new
business plan revealed to journalists.
Dividend payouts are to be broken down into one billion
euros for this year, two billion euros next year, three billion
euros in 2016 and four billion euros in 2017.
The new plan was announced shortly after the bank
Total writedowns last year were 6.8 billion euros.
Company management ruled out any acquisition plans or the
repurchase of savings shares.
Executives also excluded having any plans in the pipeline
for a return to the stock market of its asset management unit,
Banca Fideuram, adding that the lender currently has excess
capital of eight billion euros and a Fideuram listing would
boost this significantly, which it didn't require at the moment.
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