Intesa Sanpaolo closed the first half with a net profit of 3.02 billion, up by 17.8% compared to the 2.6 billion in the same period of 2020. In 2021, the Intesa Sanpaolo group expects a minimum net profit of 4 billion euros.
The results of the first half of Intesa Sanpaolo “confirm the ability to effectively address the complexity of the context resulting from the Covid-19 epidemic and are fully in line with the achievement of a minimum net profit of 4 billion for the year”. This is what is stated in a press release from the institute. The data, adds the bank, “reflect sustainable profitability, which derives from the solidity of the capital base and liquidity position, from the resilient and well-diversified business model, from strategic flexibility in the management of operating costs and from the quality of assets. of Intesa Sanpaolo ».
“The generation of value for all stakeholders – concludes the note – will be increased by the expected synergies for over one billion euros deriving from the merger of Ubi Banca successfully carried out without social costs and from over 6 billion euros in 2020 and over 300 million of euro in the first half of 2021, based on the pre-tax profit, which the group has allocated to further strengthen the sustainability of the results “.
The ceo Messina: soon a new business plan
«We are preparing the new business plan. We are working to create the conditions to strengthen the profitability of the future ». This was stated by the CEO of Intesa Sanpaolo, Carlo Messina, during the conference call with financial analysts about the results of the first half. “I do not manage Intesa Sanpaolo – he added – with a short-term vision, but with a medium-long term vision”. To a question on the payment of the dividend, Messina pointed out that “in a year like this it is much better to work on the forecast of the net result and on that basis derive the dividend that can be distributed”. For 2002, Messina added, “certainly 5 billion is the minimum expected net profit”.