8 May 2019, Turin, Milan, Moscow. At its meeting on May, 7, the Board of Directors of Intesa Sanpaolo approved the consolidated interim statement as at 31 March 2019.
Results for Q1 2019 reflect the Group’s sustainable profitability which derives from a solid capital base and strong liquidity position, and from a resilient and well-diversified business model. Results for Q1 2019 show that the Group is firmly on track to deliver on its targets.
Operating income in Q1 2019 was €4,389M (+4.6% versus Q4 2018, and -8.8% versus Q1 2018).
Operating costs in Q1 2019 were €2,204M (-13.9% versus Q4 2018, and -4.5% versus Q1 2018).
Operating margin in Q1 2019 was €2,185M (+33.5% versus Q4 2018, and -12.7% versus Q1 2018).
Gross income in Q1 2019 was €1,792M versus €1,370M in Q4 2018, and versus €1,969M in Q1 2018.
Net income in Q1 2019 was €1,050M versus €1,038M in Q4 2018, and versus €1,252M in Q1 2018.
Capital ratios: common equity tier 1 ratio after dividends accrued in Q1 2019:
• 13,5% pro-forma fully loaded;
• 13,1% phased in.
As at 31 March 2019, the Intesa Sanpaolo Group’s operating structure had a total network of 5,155 branches, consisting of 4,083 branches in Italy and 1,072 abroad, and employed 90,955 people.
“We are particularly satisfied with the first quarter of the year. Despite a more challenging operating environment than expected, Intesa Sanpaolo confirmed its ability to achieve significant results, in line with the objective of delivering a higher net income than in 2018”, Carlo Messina, CEO of Intesa Sanpaolo said.