Intesa Sanpaolo’s first
quarter net income has fallen by 3.9% to €661m ($940.1m) from the
year ago quarter.
Net profit at Intesa’s
retail focused Banca dei Territori division fell by 13.4% to €258m
for the three months to 31 March.
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First quarter highlights
at the Banca dei Territori unit included:
- Operating costs of €1.4bn fell by 0.4%
year-on-year; - The cost income-ratio of 59.0% fell by 20
basis points, and - Net provisions of €441m fell by 13.7%
year-on-year.
Total customer lending
fell by 0.5% to €375.5bn;direct customer deposits fell by 3%
year-on-year to €418bn.
Total assets fell by
1.8% to €644.7bn.
Intesa ended the first
quarter with a total branch network of 7,428 outlets, of which
5,682 are based in Italy.
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