Net income at Italy’s second largest banking
group, Intesa Sanpaolo’s retail banking-focused Banca dei Territori
fell by 35% in the twelve months to year-end 2010 to €783m.
Customer loans remained flat, while deposits at Banca dei
Territori fell by 1.7% to €217.1bn.
Go deeper with GlobalData
At group level, Intesa Sanpaolo posted a net profit of €2.7bn,
down by 3.6% from the previous financial year.
The decline in net profit from the previous year was mainly due
to lower net interest income, which fell by 7.2% to €9.8bn in the
twelve months to 31 December, and a 58.6% decline in trading income
to €464m.
On a positive note, group net fee and commission income
increased by 5.7% to €5.7bn
Net income from Intesa Sanpaolo’s international banking
businesses increased by 2.1% to €378m in 2010.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIntesa had total assets of €658.8bn as of 31 December, an
increase of 1% from the previous year-end.
Intesa is going to publish a new business strategy plan on 6
April.
French lender Crédit Agricole, who bought Cassa di Risparmio della Spezia, an
Intesa Sanpaolo subsidiary, reported its strategic plan on 17
March.
