|Bid||2.3335 x 0|
|Ask||2.3340 x 0|
|Day's Range||2.3065 - 2.3500|
|52 Week Range||1.8620 - 3.2000|
|Beta (3Y Monthly)||1.55|
|PE Ratio (TTM)||9.72|
|Earnings Date||May 7, 2019|
|Forward Dividend & Yield||0.20 (9.07%)|
|1y Target Est||2.58|
Notices urge a clear-out ahead of our return to our former headquarters, Bracken House, near St Paul’s Cathedral. Lex’s desks, it must be said, are among the less cluttered. Lex was sceptical about the projections in the IPO prospectus published by the ride-hailing business in preparation for next month’s listing.
Carlo Messina, chief executive of Intesa Sanpaolo, said Italy’s biggest domestic lender was in talks with asset manager Prelios about a deal that would reduce soured loans — a European regulatory priority — and warned the European Central Bank to dial down its pressure on Italy’s banks. Mr Messina also said Intesa Sanpaolo, one of Europe’s biggest banks by market value, was unlikely to be involved in an expected M&A round among the continent’s large lenders. “I do not think Intesa Sanpaolo will enter into European consolidation,” he said, adding that the bank’s analysis showed “synergies are really very limited” from a cross-border merger.
The category, worth about €83bn in outstanding loans, has also piqued the interest of foreign investors, including Bain, Bayview and Algebris. with asset manager Prelios to manage its burden of poor quality loans. Some in Milan believe this could presage a slow sale by Italy’s biggest domestic lender of UTPs worth billions.
Slovenian banks posted a combined net profit of 35.8 million euros ($40.3 million) in January, up 5.5 percent compared with the same month last year, the Bank of Slovenia said in its monthly report on Wednesday. It added that banks had reduced the amount of non-performing loans on their books to 1.7 billion euros, or 3.9 percent of all loans, down from 4 percent a month before and 5.7 percent in January 2018. Slovenia, which narrowly avoided having to accept an international bailout for its banks in 2013, plans to sell its third-largest bank, Abanka, by the middle of this year.
Deputy Premier Matteo Salvini, the leader of the League who has warned about potential security threats from China, didn’t attend the signing ceremony in Rome on Saturday. At an event in northern Italy the same day, he cautioned about the lack of a free market in China. “I’m happy that the Chinese president is here for a visit because the more the markets are opened for our companies, the better it is -- on equal footing,” Salvini told a conference along Lake Como.
Around 30 parallel deals were signed on the sidelines of the visit to Rome by Chinese President Xi Jinping, including 10 with Italian companies and others with ministries and public bodies. Italian Deputy Prime Minister Luigi Di Maio said the deals were worth an initial 2.5 billion euros ($2.8 billion) but had a potential value of 20 billion. Italy's state lender Cassa Depositi e Prestiti (CDP) signed an agreement with Bank of China to let it sell "Panda" bonds - debt sold by foreign entities to investors in mainland China.
Italy is the first Group of Seven nation to volunteer for a role in the massive international program, with a memorandum of understanding that the two sides formally approved at the Renaissance-era Villa Madama in Rome on Saturday. Chinese and Italian companies signed 10 agreements potentially worth as much as 20 billion euros ($23 billion), Deputy Premier Luigi Di Maio said. “Today is a day in which Made in Italy, Italy, Italian companies win,” Di Maio told reporters after the signings.
The country has stumbled from crisis to crisis, as it fought a rearguard action against the European Union’s rules for handling failing lenders. This week, EU judges gave Rome a rare moment of joy. The bloc’s general court, its second-highest tribunal, ruled on Tuesday that the 2014 rescue of Banca Tercas SpA by the Italian deposit guarantee scheme didn’t break the law.
A potential merger between Deutsche Bank and rival Commerzbank does not signal a new wave of banking consolidation in Europe, the chairman of Italy's biggest retail lender Intesa Sanpaolo said on Monday. ...
MILAN (Reuters) - A potential merger between Deutsche Bank and rival Commerzbank does not signal a new wave of banking consolidation in Europe, the chairman of Italy's biggest retail lender Intesa Sanpaolo ...
Announcement: Moody's announces completion of a periodic review of ratings of Intesa Sanpaolo S.p.A. Madrid, March 13, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Intesa Sanpaolo S.p.A. and other ratings that are associated with the same analytical unit. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
MILAN/LONDON (Reuters) - Italy's Eni and Edison have emerged as the strongest suitors to buy utility Ascopiave's retail customers as they prepare rival bids for a business worth up to 600 million euros (515.4 million pounds), sources told Reuters. Ascopiave, one of Italy's biggest gas utilities, is looking to sell a majority stake of a portfolio of more than 700,000 clients as it seeks to focus on its gas distribution network business in the north east of Italy. Its portfolio is one of the largest still up for grabs in the Italian market, six sources said.
Slovenian banks made a joint net profit of 496.3 million euros ($561.36 million) in 2018 versus 424.8 million a year before, partly due to a drop in bad loans, the Bank of Slovenia said in a report on Thursday. The banks managed to reduce non performing loans to 1.7 billion euros or 4 percent of all loans at the end of 2018 versus 6 percent a year before. Slovenia only narrowly avoided an international bailout for its banks in 2013 when the government had to pour more than 3 billion euros into local banks to prevent them from collapsing under a large amount of bad loans.
Intesa Sanpaolo has so far reimbursed 60 percent of 8,000 clients who bought diamonds as an investment from Italy's biggest retail bank, its chief executive said on Wednesday. Four Italian banks, including Intesa, have been placed under investigation over alleged fraudulent diamond sales.
FLORENCE, Italy (Reuters) - Italy's biggest retail bank Intesa Sanpaolo sticks by targets set in February last year under a business plan to 2021 despite the worsening economy, Chief Executive Carlo Messina ...
Italy’s economy is officially in a recession, but the chief financial officer of Intesa Sanpaolo, seen by investors as one of the country’s safest banks, is anticipating that lending activity will pick up in the second half of 2019.
Italian bad loan investor Fire is looking to add 1 billion euros ($1.1 billion) in assets under management this year as it works towards an eventual stock market listing, its chief executive said. Italian banks' efforts to cut a bad loan pile that peaked at 360 billion euros after a recession turned Italy into Europe's biggest market for soured bank debt, with sales totalling some 150 billion euros in the past two years. "(In 2019) we want to approach the 10 billion euro psychological threshold (of assets under management) which separates big players from small- and medium-sized ones," CEO Claudio Manetti told Reuters.
The cost of insuring exposure to Italy's sovereign debt and bonds issued by the country's banks jumped on Thursday after the European Commission slashed growth forecasts, fuelling concerns that a tepid ...
Intesa Sanpaolo SpA has built a decent fallout shelter — but it may be the exception. Net interest income in the fourth quarter fell 5.4 percent from the year-earlier period and commissions at Italy’s second-largest bank also dropped, missing analyst estimates. Chief Executive Officer Carlo Messina is confident the bank can deliver “much higher” income from lending in 2019 and said net inflows will exceed 2018 in a “significant way.” He may sound overly bold but his record of meeting objectives is pretty good — he deserves the benefit of the doubt.
MILAN (AP) — Italian bank Intesa SanPaolo says its 2018 earnings increased by a modest 5 percent as it refocuses its business on asset management.