Intesa Sanpaolo posts better-than-expected Q1 profit of €2.76 billion

(ANSA) - ROME, MAY 8 - Intesa Sanpaolo on Friday posted a first-quarter net profit of 2.76 billion euros, which was better than analysts had expected and up 5.6% on the 2.61 billion profit made in the equivalent period last year. Italy's biggest bank said it expected to make a net profit of around 10 billion euros this year, with income mainly driven by commissions and insurance income, with increasing net interest income also thanks to core deposit hedging and volume growth. It said payout r...

By ANSA