ISNPY - Intesa Sanpaolo S.p.A.
| Previous close | 14.60 |
| Open | 14.58 |
| Bid | 0.00 x 0 |
| Ask | 0.00 x 0 |
| Day's range | 14.41 - 14.61 |
| 52-week range | 9.36 - 16.70 |
| Volume | |
| Avg. volume | 212,238 |
| Market cap | 44.369B |
| Beta (5Y monthly) | 1.41 |
| PE ratio (TTM) | 9.92 |
| EPS (TTM) | 1.47 |
| Earnings date | N/A |
| Forward dividend & yield | 1.05 (7.26%) |
| Ex-dividend date | 26 May 2023 |
| 1y target est | 22.89 |
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ReutersIntesa to decide on next AT1 call based on market conditions-CEO
Intesa Sanpaolo will decide based on market conditions whether to repay a perpetual bond with a call option coming due early next year, the chief executive said, adding the potential decision to call did not pose a problem to Italy's biggest bank. "We'll see what the conditions are," CEO Carlo Messina said on the sideline of an event in Milan when asked if Intesa planned to exercise the call option coming due next on one of its Additional Tier 1 bonds. Intesa has a 750 million euro 6.25% perpetual bond with a call option falling due on May 16, 2024.
ReutersNo pressure to raise interest rates on deposits, UniCredit CEO says
UniCredit is not under pressure to raise the interest rates it pays on retail deposits, which account for about 60% of its deposit base and are "very sticky", Chief Executive Andrea Orcel said on Wednesday. "Most banks have liquidity ratios that are off the charts," he said, adding that the European Central Bank would only be forced to intervene in case of a "dramatic dislocation" which at present there is no reason to fear.
ReutersIntesa's Russian subsidiary sees huge profit jump in 2022
Italian bank Intesa Sanpaolo's Russian subsidiary saw profits more than six times higher in 2022 than the year before, independent audit documents showed, as Western sanctions on Russia's banking sector gave foreign lenders an unlikely boost. Foreign banks have stepped in to take business from Russian lenders who fell under sweeping Western sanctions imposed following Moscow's decision to send tens of thousands of troops into Ukraine last February. Intesa's Russian subsidiary made net profit of 2.02 billion roubles ($26.7 million) in 2022, up from 317 million roubles in 2021, the documents showed, a 538% rise.
ReutersItaly's UniCredit, Intesa fall as investors fret over bond portfolio risks
Shares in leading Italian banks UniCredit and Intesa Sanpaolo fell sharply on Friday following a sell-off in U.S. and Asian banks driven by concerns lenders potentially face losses on their government bond portfolios. The rise in interest rates has hammered the value of those portfolios, with Italian banks seen as particularly exposed given the risk premiums investors demand to hold Italian paper rather than higher-rated German government bonds. However, European Central Bank Chief Supervisor Andrea Enria warned last November that "this accounting configuration gives a false sense of security in the face of shocks and volatility, in that actual changes in fair value are not reflected in the banks' earnings and regulatory capital figures."
ReutersIntesa staff to test new digital business from March
Italy's biggest bank Intesa Sanpaolo has told staff they can sign up to test from March 1 the app for the new digital lender it is setting up with British fintech Thought Machine, an internal document showed. Intesa last year unveiled plans to invest 5 billion euros ($5.3 billion) in technology under its 2022-2025 strategy, of which 650 million is destined to create its new digital arm called Isybank. Intesa has struck a five year partnership with Thought Machine, founder and CEO Paul Taylor told Reuters, making the Italian bank one of the biggest customers of the UK firm.
ReutersItalian banks' lending to firms stagnates in December
MILAN (Reuters) -Italian banks' lending to businesses came to a standstill in December, in the weakest performance for three years, Bank of Italy data showed on Thursday. A monthly report on the balance sheets of domestic banks showed loans to non-financial companies were flat year-on-year in December compared with a 2.7% expansion the previous month. It was the first month to show no growth since February 2020, when corporate lending fell 1.2% annually as the COVID-19 pandemic broke out in Italy.
ReutersIntesa would benefit from European deal but nothing fits - CEO
Intesa Sanpaolo would need a cross-border merger and acquisition (M&A) deal to become a European leader in its core wealth management and insurance businesses, but there are no suitable targets at present, its chief executive said. CEO Carlo Messina said Intesa's focus on fee-yielding businesses such as wealth management and non-life insurance was the right one, putting the bank among a 'Champions League' of the few European lenders valued at close to their book value.
ReutersIntesa sets prudent 2023 goal as its cuts assets to boost capital
MILAN (Reuters) -Italy's biggest bank, Intesa Sanpaolo, slashed its assets by more than expected at the end of last year to fend off regulatory hits to its capital reserves and gave a conservative profit estimate for 2023, despite a strong fourth quarter. Shares in Intesa closed down 3%, with analysts saying its 2023 net profit target of more than 5.5 billion euros fell short of market expectations, despite being sharply higher than 4.4 billion euros in 2022 when Intesa bore costs to cut its Russia exposure close to zero. "I don't like this approach of giving a fantastic outlook and creating expectations just for the sake of a short-term increase to the share price," Chief Executive Officer Carlo Messina told analysts.
ReutersItaly's Intesa reassures investors over capital distribution
Intesa Sanpaolo on Friday sought to reassure investors that it had sufficient capital reserves to see through its shareholder distribution plans, after its shares fell on concerns about reported large asset disposals. Intesa said it expected its best quality capital to stand at around 13% at the end of the year and to remain well above the bank's minimum target of 12% over the course of its business plan "with significant value creation and distribution to shareholders."
ReutersIntesa reassures on capital distribution after asset risk worries hit shares
Intesa Sanpaolo sought to reassure investors over its ability to hit shareholder reward targets on Friday, after shares in Italy's top bank fell on concerns about large asset disposals to cut risks. Shares in Intesa fell by 2% after Bloomberg reported Intesa was cutting as much as 20 billion euros ($22 billion) in risk-weighted assets to address supervisory remarks about its inadequate risk models. Italian daily Il Sole 24 Ore reported on Thursday the European Central Bank had taken issue with the risk models of several Italian banks, prompting lenders to cut assets to preserve capital buffers.
ReutersItaly's Intesa to offer staff four-day working week from January
Italy's biggest bank Intesa Sanpaolo said on Friday it would offer its Italian staff the option of a four-day working week on the same salary from January, the first such move by a major Italian employer. Intesa, which employs 74,000 people in Italy, had said in October it was looking at shortening the working week to curb its electricity bills at a time when European businesses are wrestling with sky-high energy costs. Staff choosing the shorter week will have to work for nine hours per day over four days, Intesa said.
- Reuters
Italy's Intesa agrees further 500 euro one-off payment to staff
Italy's biggest bank Intesa Sanpaolo has agreed with unions a further 500-euro ($513.45) one-off payment to help staff cope with soaring inflation, the sector's largest union FABI said on Tuesday. Intesa had announced with first half earnings a previous 500 euro one-time payment for its employees. The contributions concern 70,000 workers in Italy excluding executives, Intesa said, adding that the two payments would cost the bank around 87 million euros.
ReutersIntesa sells 584 million euro Nexi stake at 11% discount
Italy's biggest lender Intesa Sanpaolo on Tuesday said it had sold its entire 5.1% stake in Nexi, its long-term retailers' payments partner, for 584 million euros ($606 million). The sale of the holding, carried out overnight at a 10.86% discount to Monday's closing price as it is customary in such transactions, pushed Nexi shares sharply lower. Intesa took advantage of last week's rally in the shares triggered by Nexi's better than expected quarterly results reported on the same day that U.S. inflation data buoyed global markets.
- Reuters SG
Deals of the day-Mergers and acquisitions
** Indian conglomerate Adani Group moved a step closer in its takeover of news broadcaster New Delhi Television Ltd with an approval from the market regulator to buy an additional 26% stake, according to a person familiar with the matter. ** Italy's Intesa Sanpaolo said it was selling its entire 5.1% stake in Nexi, in an effort to cash in on a recent rally in shares of the payments group.
ReutersItaly's Intesa to sell 654 million euro stake in payments group Nexi
MILAN (Reuters) -Italy's Intesa Sanpaolo said on Monday it was selling its entire 5.1% stake in Nexi, in an effort to cash in on a recent rally in shares of the payments group. Intesa agreed to a 25-year partnership as part of the Italian bank's 2020 sale of its retailers' payments business to Nexi. Intesa said in a statement that the sale of the stake would have no impact on its strategic partnership with Nexi.
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ReutersItaly's Intesa eyes four-day working week in energy-saving move
Italy's biggest bank Intesa Sanpaolo is discussing with unions a four-day working week for its 74,000 staff in the country - the first such move by a major Italian employer. Shortening the working week would help Intesa curb its electricity bills at a time when European businesses are wrestling with sky-high energy costs. Intesa would give employees the option of working 36 hours a week spread over four days, instead of the current 37.5 hours over five days, earning the same salary, a spokesperson for the lender said.
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ReutersItaly's AMCO to buy 1.4 billion euros of non-performing leasing credits from Intesa
Italy's state-owned bad loan specialist AMCO said on Friday it had signed an agreement with lender Intesa Sanpaolo to purchase a portfolio of non-performing leasing credits with a gross value of around 1.4 billion euros ($1.46 billion). AMCO added it had signed another contract with Intesa to buy a portfolio of single-name unlikely-to-pay loans with a gross value of 120 million euros.
ReutersIntesa Sanpaolo shares rise after ECB's green light to buyback plan
MILAN (Reuters) -Shares in Intesa Sanpaolo rose on Monday after Italy's biggest bank said late on Friday it had received supervisory clearance from the European Central Bank (ECB) to buy back its own shares for up to 3.4 billion euros ($3.6 billion). Kepler Cheuvreux said the ECB's green light on the buyback's full amount was positive because it meant the ECB considered a 100 basis point hit on the bank's capital ratios "manageable". Intesa said on Friday it would immediately carry out half of the proposed share buyback and take a decision on the remaining 1.7 billion euros by the time it publishes full-year results in February 2023.
ReutersItaly's Intesa halves share buyback programme to 1.7 billion euro for 2022
Intesa had announced a 3.4 billion euro share buyback programme in February this year, as it expects to return more than 22 billion euros to investors by 2025. Intesa said the trimmed buyback programme will be launched in early July and expected to complete it by end-October. The decision on the remaining amount will be taken next year after the company's 2022 results are approved, Intesa added.
ReutersItaly's Nexi buys Intesa's Croatian retailer payment business for $189 million
Italian payments group Nexi agreed with Intesa Sanpaolo to acquire the retailer payment business of the lender's Croatian arm, confirming what sources had previously told Reuters. In a statement on Friday, Nexi said that it would pay 180 million euros ($189.27 million) to purchase PBZ Card's merchant acquiring business in the Croatian market, with the closing expected by the end of the year. Nexi, one of Europe's leading payments company, has been steadily expanding its operations serving merchants and, earlier this month, agreed to buy the shop payments business of BPER Banca and Banco Di Sardegna in a deal worth up to 384 million euro.