Intesa Sanpaolo : A good set of Q3 2020 figures across the board (almost)
>Reassuring operating trends - This release was marked by the first-time consolidation of UBI Banca (over two months). The group posted good-quality Q3 2020 numbers (net income of € 507m, excl. UBI vs € 460m for the consensus), mainly thanks to costs which came in well below expectations, as did loan loss provisions. Including the pro-rata contribution from UBI Banca, net income came to € 3.8bn, with the badwill generated at the time of the acquisition. We note the f...Intesa Sanpaolo is a commercial bank. Co. is engaged in lending and deposit collection operations in Italy and associated financial services, serving Households, Personal, Small Business, Private and Small and Medium Enterprise customers. Co. provides medium-term credit, leasing, factoring and agribusiness (Mediocredito Italiano), consumer credit (Intesa Sanpaolo Personal Finance), management of electronic payments (Setefi), and trust services (Sirefid). Co. has approximately 4,300 branches, including Retail and Business branches, distributed broadly throughout Italy. At Dec 31 2014, Co. had total assets of Euro646.43 billion.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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