The group posted underlying results in line with guidance, confirming ongoing top-line expansion, strong cost control and benign asset quality trends. However, the latter will not translate into a normalisation of the cost of risk this year as management intends to create upbeat conditions for its next business plan to be disclosed along with the full-year results. The contribution of the Venetian banks will be EPS neutral this year and management ruled out any extra dividend. Hence, on an un

01 Aug 2017
Paving the way for an upbeat new business plan

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Paving the way for an upbeat new business plan
Intesa Sanpaolo S.p.A. (ISP:WBO) | 0 0 1.0% | Mkt Cap: 52,671m
- Published:
01 Aug 2017 -
Author:
David Grinsztajn -
Pages:
2 -
The group posted underlying results in line with guidance, confirming ongoing top-line expansion, strong cost control and benign asset quality trends. However, the latter will not translate into a normalisation of the cost of risk this year as management intends to create upbeat conditions for its next business plan to be disclosed along with the full-year results. The contribution of the Venetian banks will be EPS neutral this year and management ruled out any extra dividend. Hence, on an un