Intesa reports 7.3 bn 2017 income

Bank plans to halve NPLs by 2021

(ANSA) - Milan, February 6 - Intesa Sanpaolo said Tuesday that its net income for 2017 was 7.316 billion euros, including 3.5 billion in public cash to offset the impact on capital ratios of its acquisition of troubled lenders Banca Popolare di Vicenza and Veneto Banca. It also released its 2018-2021 business plan which foresees the bank halving its non-performing-loans to a total customer loan ratio to 6% gross of adjustments, compared to 11.9% in 2017. Intesa is aiming for six billion euros in net profit in 2021.