Banks, golden semester for Intesa Sanpaolo. Mps accounts tomorrow, a small quarterly profit possible. At 8 pm Minister Franco speaks

The Intesa Sanpaolo group closed the first six months of the year with profits of 3 billion euros, up by almost 18% compared to the same period in 2020. The leading Italian bank expects to finish 2021 with earnings of at least 4 billion euros. Revenues reach 10.8 billion euros (+ 18.6%), thanks above all to the 4.7 billion euro guaranteed by commissions (+ 13%). In the second quarter of the year alone, profits amounted to € 1.5 billion. Non-performing loans are decreasing, i.e. those loans that risk not being repaid within the agreed time frame due to the difficulties of the debtors, down by 7.6% compared to the end of 2020.

The CEO Carlo Messina speaks of “Excellent result with a profit of 3 billion. For Intesa Sanpaolo this is the best net result of the first half since 2008, after years of continuous growth ”. With regard to the recent acquisition, Messina reports that “The combination with Ubi adds significant value, creating annual synergies of over 1 billion without social security contributions. The merger with uBI Banca – he added – it was successfully completed, bringing further value creation. No.I don’t see other possibilities of operations. We made the right move at the right time but now the game is over for us ”. “The Eba stress test confirmed that Intesa Sanpaolo is a very low risk bank even in an adverse scenario for Italy”, Messina concluded specifying that – “Compared to the buyback (repurchase of own shares to increase the value of the securities, ed) I prefer to pay i dividendi cash”.

The opinion on the accounts is shared by financial analysts. It is a “solid semester driven by commissions and ratings”, highlight the analysts di JP Moragn. “We believe that the group – they add – is using this year’s strong profit generation to load more provisions in view of the new business plan”. The results are “better than expected” analysts speak of Citi. Intesa Sanpaolo “showed a good series of better than expected results”. The group also “increased its guidance on net profits for 2021 from well above 3.5 billion to at least 4 billion, also confirming the dividend policy at 75% for 2021, and 4Q top up distribution expected (between the highest in the industry) “. Ubs, instead, it highlights the “net success”, mainly explained by the “strong increase in revenues. Overall, solid numbers, with no obvious area of ​​concern ”. Compound reaction on the stock exchange, where the results were expected and the title earns 0.6%.

The quarter of Mps, a bank at the center of the political controversies of these days, could end with a small profit after the announcement of the transfer to Unicredit of some assets. This is what is learned in circles close to the Sienese bank, in which there is talk of an operating result that should be substantially “in line” with that of the first quarter when profits were reported for nearly 120 million. Tomorrow the board, in addition to the half-yearly report, will approve the transaction with the Mps Foundation, which will cost 150 million euros, which will put an end to a legal dispute, and whose effects should impact on the results of the third quarter due to temporal competence. In a few hours (at 8 pm) the Minister of Economy Daniele Franco, will report to Parliament on the situation of the Sienese bank.

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