Italian Bank Intesa Sanpaolo's Profit Dips as Income Softens

By Elena Vardon

Intesa Sanpaolo said its profit for the third quarter slipped as lower interest rates ate into its top line.

Italy's largest bank by assets on Friday reported that it made 2.37 billion euros ($2.74 billion) in net profit for the three months ended Sept. 30, slightly down from 2.40 billion euros a year prior. The result was a touch ahead analysts' estimates taken from a Visible Alpha poll, which had forecast a 2.34 billion euro figure.

Operating income--the lender's revenue metric--fell to 6.64 billion euros from 6.80 billion euros, and missed the 6.69 billion euro figure expected by consensus. A rise income from fees and commissions was tempered by a decline in net interest income--the difference between what banks earn on loans and what they pay clients for deposits--which came in at 3.68 billion euros.

Intesa Sanpaolo said that it is on track to meet its recently-upgraded guidance for net profit "well above" 9 billion euros this year, which includes what it describes as managerial actions to strengthen the sustainability of its results. The bank hasn't shared details on what the measures entail, though these usually refer to charges could cover restructuring changes, staff exits or setting money aside for bad loans.

Shares fell around 4% in midday trading after the publication of the results before paring some losses.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

October 31, 2025 08:16 ET (12:16 GMT)