The Italian group Intesa Sanpaolo, which owns PRAVEX BANK, confirmed its stability and high efficiency business model

21.08.2017


At the Board meeting of Intesa Sanpaolo approved the consolidated financial statements of Intesa Sanpaolo for the first half of 2017 as at 30 June 2017.
In the first half of 2017, the Group confirmed its resilience, showing a significant increase compared with the same period in 2016, high-efficiency business model of the Group, which provides significant income growth and improved credit quality.
Operating income (operating income) at the end of the 2nd quarter of 2017 amounted to 4,348 million euros, an increase of 3.3% compared to the 1st quarter of 2017 and the first half of 2017 amounted to 8,641 million euros, a decrease of 1% compared to the first half of 2016.
Operating expenses (operating costs) at the end of the 2nd quarter of 2017 amounted to 2,159 million euros, an increase of 5.1% compared to the 1st quarter of 2017 and the first half of 2017 amounted to 4,214 million euros, remaining at the same level as in the first half of 2016.
Operating margin (operating margin) at the end of the 2nd quarter of 2017 amounted to 2,189 million Euro, an increase of 1.6% compared to the 1st quarter of 2017 and the first half of 2017 amounted to Euro 4,343 million, a decrease of 1.9% compared to the first half of 2016.
gross profit (gross income) at the end of the 2nd quarter of 2017 amounted to 5,012 million and € 1,512 million euros, excluding the 3.5 billion Euro state contribution (non-taxable public cash contribution, which compensates the effect on the coefficients of capital in the acquisition of assets and liabilities'commitments Banca Popolare di Vicenza and Veneto Banca) against 1, 652 million euros in the 1st quarter of 2017 and by the end of the first half of 2017 amounted to 6,664 million and € 3,164 million euros, excluding the 3.5 billion euros the state contribution against 2,818 million euros in the first half of 2016.
Net profit at the end of the 2nd quarter of 2017 amounted to 4,337 million and € 837 million euros, excluding the € 3.5 billion government contribution compared to 901 million euros in the 1st quarter of 2017 and the first half of 2017 amounted to 5,238 million and € 1,738 million euros, excluding the € 3.5 billion government contribution compared to 1,707 million Euro in the first half of 2016.
dostatochno capital Ratio (common equity ratio pro-forma after proposed dividends), made in the first half of 2017: 13% complete (fully loaded); and 12.5% on a transitional basis (phased in).
More info on the website of Intesa Sanpaolo: https://www.group.intesasanpaolo.com
background:
Group Intesa Sanpaolo is one of the largest in the Eurozone. As at 31 July 2017 its market value amounts to 48.7 billion euros. The group is leader in Italy in all banking activities (retail, corporate segments and financial management) and serves 12.3 million customers in 4 600 branches throughout Italy; the market share of the Group in most Italian regions is not less than 12%. Intesa Sanpaolo is also present in Central and Eastern Europe, the Middle East and North Africa. In these regions there are about 1, 100 offices and 12 countries, where subsidiary banks operate, the Group, the number of retail and corporate customers reaches 7.7 million moreover, an international network of professionals working with corporate clients covers 27 countries, in particular, the middle East, North Africa, and the regions where active work of the Italian company: the United States, Brazil, Russia, India and China.

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