Management provided reassuring guidance for this year articulated around an increase in revenues (driven by both interest and fee income), costs reduction and a lower cost of risk. As regards 2021, while it confirmed its cost of risk guidance (41bp), it remained vague about the group’s ability to meet its demanding financial objectives. However, with consensus expectations significantly below, it does not really matter.
05 Feb 2020
2020 net profit increase secured
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2020 net profit increase secured
Intesa Sanpaolo S.p.A. (ISP:WBO) | 0 0 1.0% | Mkt Cap: 52,671m
- Published:
05 Feb 2020 -
Author:
David Grinsztajn -
Pages:
2
Management provided reassuring guidance for this year articulated around an increase in revenues (driven by both interest and fee income), costs reduction and a lower cost of risk. As regards 2021, while it confirmed its cost of risk guidance (41bp), it remained vague about the group’s ability to meet its demanding financial objectives. However, with consensus expectations significantly below, it does not really matter.