MILAN. Profit for the second quarter exceeded analysts’ expectations at 2.26 billion (+74%), half-yearly profits that leap from one year to the next by 80%, to 4.22 billion. Numbers that project Intesa Sanpaolo towards a record year: «The solid and positive results of the first six months of the year allow us to increase the forecast of a 2023 net profit well above 7 billion euros», assures the CEO of the banking group Charles Messina. This year, the bank thus expects to distribute “5.8 billion euros” to shareholders, says the banker, considering the May dividend, the second tranche of the buyback of treasury shares and the November dividend advance, which the board of directors intends to recognize for no less than 2.45 billion euros. “These are important resources, not only for our shareholders but for the country’s economy,” says the manager.
Net income for the six months was driven by growth in interest income. They jumped by 68.9% compared to a year ago, to 6.8 billion. Total operating income rose by 15.3% to 12.4 billion, operating costs rose by 0.9% to 5.2 billion, operating margin increased by 28.35% to 7.18 billion. The fact is that the steps taken so far by the bank already ensure a dividend “equal to 3 billion euros: of these – explains Messina – about 40% is destined for Italian families and our shareholder foundations, thus bringing a further strong benefit to territories to which they belong”.
The banker at the helm of Ca’ de Sass judges the first six months to be “particularly positive”. “We have confirmed the ability to generate significant and sustainable profitability with significant benefits for all stakeholders”, says Messina, who recalls the acceleration in digital with the recent launch of the online bank Isybank and Fideuram Direct. Strength in the commercial sector, positioning in asset management and in the insurance business, digital development: «Thanks to these distinctive elements, Intesa Sanpaolo is at the top of the sector in Europe and plays a role of unique importance in our country, to the benefit of economic growth and the cohesion of society”.
Also for 2024 and 2025, the bank expects to record “a net profit in further growth – says Messina – thanks to higher revenues from interest and commissions, the strengthening of operating efficiency and a very low cost of risk”. Precisely thanks to the prospect of “greater profitability, we will further accelerate projects in favor of those who find themselves in situations of particular social hardship”.