(ANSA) - MILAN, 04 AUG - Intesa Sanpaolo closes the first half of the year with a net profit of 2.6 billion, an increase of 13.2% compared to 2.3 billion in the first half of 2019, which corresponds to 86% of the 3 billion euro of net profit expected for the year 2020 and would be equal to approximately € 3.2 billion if the value adjustments on loans to € 880 million for the future impacts of Covid-19 are excluded, mainly for generic coverage on performing loans.
In the second quarter, Intesa Sanpaolo recorded a small utility amounting to 1.4 billion euros, an increase compared to 1.2 billion in the same period last year. The group resulting from the acquisition of Ubi Banca expects a net profit of not less than 5 billion from 2022. At the end of 2021 the new Business Plan will be announced, as soon as the macroeconomic scenario has become clearer.
Intesa Sanpaolo and Ubi have similar business models, with "shared corporate cultures and values. Together, we can strengthen a national champion group and leaders at European level. Together we are stronger and together we have a greater growth potential", says the CEO of Intesa, CarloMessina . (HANDLE).
Understanding: in the half year profit rises to 2.6 billion
2020-08-04T11:55:53.372Z
Intesa Sanpaolo closes the first half with a net profit of 2.6 billion, an increase of 13.2% compared to 2.3 billion in the first half of 2019, which corresponds to 86% of the 3 billion euro of minimum net profit scheduled for 2020 and re ... (ANSA)
