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Intesa Sanpaolo: consolidated financial report for the period up to 30th of September, 2017

8th of November, 2017, Turin, Milan, Moscow. At a meeting of the 7th of November, the Intesa Sanpaolo management board issued a consolidated financial report for the period leading up to the 30th of September.

The first 9 months of 2017 reflect the strengths of the business model of Intesa Sanpaolo – the increase in revenues combined with high efficiency and improved quality of lending. These factors are fully in line with the 3,4 billion euros full-year dividend target.

These indicators have also been affected by the need to offset the impact from the acquisition of  Banca Popolare di Vicenza and Veneto Banca.

Operating income for the third quarter of 2017 amounted to 4 077 million euros, compared to

4 348 million euros in the second quarter of 2017 (-6,2%), and for the first 9 months of 2017 it was 12 634 million euros, compared to 12 791 million euros for the first 9 months of 2016 (-1,2%).

Operating costs for the third quarter of 2017 amounted to 2 122 million euros, compared to 2 159 million euros in the second quarter of 2017 (-1,7%), and for the first 9 months of 2017 it was 6 336 million euro, compared to 6 338 million euros for the first 9 months of 2016 (0%).

Operating margin for the third quarter of 2017 amounted to 1 955 million euros compared to

2 189 million in the second quarter of 2017 (-10,7%) and for the first 9 months of 2017 it was 6 298 million euros, compared to 6 453 million euros for the first 9 months of 2016 (-2,4%).

Gross income for the third quarter of 2017 was 1 356 million euros, excluding the governmental fee (1), compared to 1 512 million euros in the second quarter of 2017. In the first 9 months of 2017, the gross income amounted to 4 520 million euros, excluding the government fee (1), compared to 3 890 million euros in the first 9 months of 2016.

Net income for the third quarter of 2017 amounted to 650 million euros and 731 million euros, excluding the governmental fee (1), compared to 837 in the second quarter of 2017, and for the first 9 months of 2017 amounted to 5 888 million euros and 2 469 million euros, excluding the governmental fee (1), compared to 2 335 million euros for the first 9 months of 2016.

Common equity ratio pro-forma after proposed dividends amounted, as of 30 September 2017:

  • to 13.4% on a fully loaded basis
  • to 13% on a phased in basis

As of September 30, 2017, the network of the Intesa Sanpaolo Group consisted of 5968 branches, out of which 4825 were in Italy and 1143 abroad. The total number of employees is 96478 people.

(1) Governmental tax-free cash payment, the offsetting impact on capital ratios during the acquisition of Banca Popolare di Vicenza and Veneto Banca.

 

 

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