In Q3 Intesa Sanpaolo further strengthened the Group’s good performance of the past months reaching a cumulated net income of € 6,1 bn driven by net interest income and expected to be above € 7,5 bn in full-year 2023 (from the initial guidance of € 5,5 bn). The Group net income in September 2023 is staggering growth by 85.3% year over year, also thanks to the contribution of International Subsidiary Banks Division with a net profit of 1 bn, increasing by € 0,6 bn year over year.
Benefitting from its best quarter ever (excluding one-off effect), the Division has reported a remarkable 34.7% increase in operating income (reaching a level of € 2,2 bn), and an impressive 64.3% rise in operating margin (until the level of € 1,3 bn), compared to 2022. These figures “are a proof of our ability to continue to create a bank with high and sustainable profitability, a driver of the most important project for social cohesion in the country, committed to designing the new strategies of a European leader,” said ISP CEO Carlo Messina. “The professional quality of our people is the key factor in achieving solid and sustainable results for the benefit of all stakeholders: our thanks go to them”.
More details here: https://group.intesasanpaolo.com/en/newsroom/news/all-news/2023/highlights-3q23-results
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