Italy's biggest bank Intesa Sanpaolo
on Friday posted higher-than-expected first-quarter profits of
2.3 billion euros, 17.6% higher than the 1.96 billion it posted
in the same period last year.
The bank said the implementation its 2022-2025 business plan was
going full speed ahead with the prospect of net profits of over
eight billion euros in both 2024 and 2025.
The Turin-based bank, Italy's largest by assets and led by Carlo
Messina, said it saw a solid growth in earnings, pushed by a
further increase in net interests and by a rise in net
commissions and the result of insurance activities; a stability
of operating costs, despite investments in technology, above all
following lower expenses for staff; a low cost of risk, deriving
from the zero NPL status of the ban,
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