ROME (dpa-AFX) - Italian bank Intesa Sanpaolo (ISNPY.PK, IITSF.PK) reported Tuesday that its first-half net income grew 13 percent to 4.766 billion euros from last year's 4.222 billion euros.
Gross income grew 14.7 percent to 7.737 billion euros from prior year's 6.744 billion euros. Operating margin improved to 16.6 percent to 8.381 billion euros.
Operating income increased 9.6 percent to 13.588 billion euros from 12.398 billion euros last year.
In the first half, net interest income increased 16.2 percent, net fee and commission income grew 6.9 percent, and income from insurance business went up 5.5 percent.
Looking ahead, the company said the implementation of the 2022-2025 Business Plan is proceeding at full speed, with the prospect of a net income of over 8.5 billion for 2024 and 2025.
The company previously expected net income in 2024 and 2025 to exceed 8 billion euros.
For 2024, the company projects solid revenue growth, driven by a further increase in net interest income expected to be at around 15.5 billion euros, and growth in net fee and commission income and income from insurance business.
Further, the Board of Directors envisaged the distribution of a cash interim dividend of around 3 billion euros on the 2024 results.
In Milan, Intesa Sanpaolo shares were trading at 3.744 euros, up 2.1 percent.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
