Intesa Sanpaolo : Q2 2018 results in good shape
>Solid Q2 2018 release - Net profit of € 927m, higher than forecast (vs € 866m for consensus). This confirmed the favourable operating trends (revenues, costs and provisions).The positive surprise mainly came from the top line (4% above consensus, mainly driven by trading revenues with NII & NCI in line) and costs (3% lower than consensus).Reassuring message on the 2018 guidance and the strategic plan, in addition to the capital and shareholder returns....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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