Intesa Sanpaolo : Q3 2018: the group is delivering the goods on the main points
>Q3 2018 release ahead of expectations & reassuring message - Net profit better than expected at € 833m (+6% vs € 789m consensus), confirming the positive trend at the operating level (revenue, costs, provisions) – the group is on track to meet its net profit guidance for 2018 (= €3.8bn) with ~90% achieved over 9 months (including Intrum).Nice surprise mainly in the top line (+2% vs cons) and provisions (-14% vs consensus), while costs were in line.Reassuri...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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