Italy’s biggest bank Intesa Sanpaolo on Monday said it would grow its net income to around 10 billion euros ($12 billion) in 2026 after beating profit forecasts in the fourth quarter though it set aside cash to cut impaired debts and staff.
Intesa posted a net profit of 1.7 billion euros for the three months through December, above a 1.6 billion euro Visible Alpha analyst consensus forecast. Revenues met market expectations at 8.6 billion euros.
Profit in the full year was 9.3 billion euros and Intesa said it would pay out 6.5 billion euros as cash dividends, while using 2.3 billion euros to buy back its own shares starting in July. ($1 = 0.8441 euros)
(Reporting by Valentina Za)
