Intesa Sanpaolo Reports Record €7.2 Billion Nine-Month 2024 Net Income and Confirms Full-Year Guidance

Intesa Sanpaolo delivered a nine-month net income of €7.2 billion for the period ending 30 September 2024, a rise of 17% compared with the same period a year earlier, the Italian bank announced on 31 October. The result represents the best nine-month performance in the group's history, the bank said. Third-quarter net income reached €2.4 billion, against €2.47 billion in the second quarter and €1.9 billion a year earlier. The results were published in a press release on the group's investor relations website.

GUIDANCE

Management confirmed full-year 2024 net income guidance at above €8.5 billion. The bank also said it expects 2025 net income of around €9 billion.

The CET1 capital ratio stood at 13.9% at the end of the third quarter after deducting €5 billion of dividends accrued in the first nine months, compared with 13.7% at the end of 2023.

€5 BILLION OF DIVIDENDS ACCRUED IN NINE MONTHS

Intesa Sanpaolo said €5 billion of dividends had accrued in the first nine months of 2024, in addition to the €1.7 billion share buyback completed in October, and that €3 billion of that amount would be paid in November as an interim dividend. The Board approved the €3 billion interim dividend, 17 euro cents per share, on 31 October, payable from 20 November 2024.