Intesa Raises Profit Guidance as Takeover of Monte dei Paschi Nears
By Michael Hennessey
Intesa Sanpaolo raised its 2026 net profit outlook, citing higher revenue and stable costs, as the Italian bank prepares to buy smaller rival Banca Monte dei Paschi di Siena.
The lender on Tuesday said it now expects net profit for 2026 to be "well above" 10 billion euros ($11.19 billion), compared to previous guidance for net profit over 10 billion euros. It reported net profit of 9.32 billion euros for 2025.
The bank raised its guidance due to growth in revenue, mainly driven by commissions and insurance income, stable costs and a significant reduction in provisions, it said.
Intesa reported net profit of 2.645 billion euros for the third quarter, up from 2.37 billion euros for the same period last year. Analysts polled by Visible Alpha had forecast a net profit of 2.54 billion euros.
Operating income, the bank's top-line figure, grew 4.2% to 6.92 billion euros, below consensus expectations of 7.03 billion euros.
Intesa is nearing a conclusion to its long-running attempted takeover of Monte dei Paschi, after the smaller bank's shareholders rejected a defense plan against Intesa's 31.4 billion euro offer last week.
Write to Michael Hennessey at michael.hennessey@wsj.com
(END) Dow Jones Newswires
November 03, 2026 07:36 ET (12:36 GMT)
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