“The first nine months demonstrate the ability of the Intesa Sanpaolo to achieve solid results in a context of considerable complexity: the net profit stood at € 2.3 billion, a figure which rises to 3.2 billion if we also consider the capital gain on the sale of Setefi and Intesa Sanpaolo Card. We have therefore already exceeded the 3 billion that the our plan is to distribute as dividends in cash will be payable on the current year”, so the managing director of Intesa Sanpaolo , Carlo Messina, commenting on the results of the first nine months of the year.
Intesa Sanpaolo , he added, ranks among the banks most efficient in Europe with a cost/income below 50% against an industry average of 65%. “We are situated at the vertices of europe in terms of profitability, thanks to the important contribution of all the divisions of the bank.” In addition, Messina has pointed out that the commitment of management in the management of non-performing loans has given the “significant results: the stock in the last 12 months decreased by eur 5 billion, the incidence of net doubtful loans on total loans was reduced from 10% to 8.5%. This positive trend will continue in the coming quarters,” he assured.
flows of the impaired loans are the minimum values from the creation of Intesa Sanpaolo , that is, from 2007. “Our provisioning policy remains marked by the usual prudence: in the coming months and years we will capture additional benefits,” continued the banker, recalling that in the last stress test last July, Intesa Sanpaolo was the only major european bank listed in the most adverse conditions showed an excess of capital in relation to the requirements provided in the standard terms and conditions.
At the end of September, the common equity is equal to 13%. In terms of leverage, “our position is among the best in Europe. We confirm our position as the european leader in wealth management: our clients entrust us with financial assets of approximately 850 billion euro, of these, approximately 310 billion are entrusted to us under management, an increase of 8 billion in the last quarter,” said Messina.
the model of wealth management company to which the management is oriented in recent years, “is giving significant results: the 50% of the profit before taxes is derived from these activities. We believe we can deal from a position of strength in the current market environment”. The managing director of Intesa has also highlighted the role of the institute in financing the real economy. “Our bank represents the throttle of the real economy in Italy: at the end of September, the credit medium / long-term granted was equal to 34 billion: 80% more compared to the same period of 2014″.
considering only credit granted to Smes and families, which has exceeded $ 29 billion, the increase was about 120%. As for mortgages, the new mortgages in the first nine months increased by 50% with a doubling of the market share of the bank. “In the last 3 years we have been close to more than 45,000 companies that you are healed, we have been able to bring in loans and $ 2.8 billion of non-performing loans. Give a strong support to households and businesses: this is our role, and we want to continue to play it even in 2017, a year that will see our economy strengthen the prospects for growth,” concluded Messina.
No comments:
Post a Comment