Intesa Sanpaolo

Intesa Sanpaolo is a commercial bank. Co. is engaged in lending and deposit collection operations in Italy and associated financial services, serving Households, Personal, Small Business, Private and Small and Medium Enterprise customers. Co. provides medium-term credit, leasing, factoring and agribusiness (Mediocredito Italiano), consumer credit (Intesa Sanpaolo Personal Finance), management of electronic payments (Setefi), and trust services (Sirefid). Co. has approximately 4,300 branches, including Retail and Business branches, distributed broadly throughout Italy. At Dec 31 2014, Co. had total assets of Euro646.43 billion.
  • TickerISP
  • ISINIT0000072618
  • SectorBanks
  • CountryItaly

Analysts

1 director sold

A director at Intesa Sanpaolo SPA sold 15,017 shares at 1.985EUR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of b...

Johann Scholtz

Morningstar | Intesa Sanpaolo's 3Q: CEO Strikes Confident Tone During Call, but Revenue Growth Slows

Intesa Sanpaolo reported pretax profits of EUR 1.4 billion for the third quarter of 2018, this represents a 13% increase compared with the corresponding period in 2017. Intesa Sanpaolo CEO Carlo Messina struck a very confident tone during the earnings call, highlighting Intesa’s good growth prospects, profitability, and its strong performance in the European Banking Authority stress tests. He also believes that the fundamentals for the Italian economy remains sound. Messina believes that the market is pricing in an “Armageddon” scenario for Intesa Sanpaolo and for Italy. While we agree with mo...

Intesa Sanpaolo S.p.A.: Q3 2018 Results: Loan loss charges continue to decline

Intesa Sanpaolo reported a €3 billion net profit for the first nine months of 2018, a 26% improvement from the same period in 2017, excluding the €3.9 billion government contribution.

Ibrahim Firdaus

Intesa Sanpaolo

Johann Scholtz

Intesa Sanpaulo's 3Q 2018: CEO Strikes Confident Tone During Call, but Revenue Growth Slows Down

Intesa Sanpaulo reported pretax profits of EUR 1.4 billion for the third quarter of 2018, this represents a 13% increase compared with the corresponding period in 2017. Intesa Sanpaulo CEO Carlo Messina struck a very confident tone during the earnings call, highlighting Intesa’s good growth prospects, profitability, and its strong performance in the European Banking Authority stress tests. He also believes that the fundamentals for the Italian economy remains sound. Messina believes that the mar...

Intesa Sanpaolo S.p.A.: Q3 2018 Results: Loan loss charges continue to decline

Intesa Sanpaolo reported a €3 billion net profit for the first nine months of 2018, a 26% improvement from the same period in 2017, excluding the €3.9 billion government contribution.

Intesa Sanpaolo S.p.A.: Update following downgrade of long-term deposit rating

Our credit view of Intesa Sanpaolo, reflecting its standalone creditworthiness, very low loss-given-failure on senior debt, and constraints from Italy's sovereign debt rating.

Lloyds Banking Group; Intesa Sanpaolo: Similar business model, different challenges and operating environments

Despite having very similar business models, UK-based Lloyds and Italian Intesa Sanpaolo have different credit profiles, largely reflecting Italy's weaker operating environment.

Intesa Sanpaolo S.p.A.: H1 2018 Results: Improved profitability is driven by declining loan loss charges and trading gains

Intesa Sanpaolo reported a H1 2018 net profit of €2,179 million, a 25% improvement from a year prior once we exclude the government contribution to acquire the former Venetian banks in 2017.

Intesa Sanpaolo S.p.A.: Update following review for downgrade on long-term deposit rating

Our credit view of Intesa Sanpaolo, reflecting its standalone creditworthiness, as well as extremely low and very low loss given failure on deposit and senior debt, respectively.

Johann Scholtz

Morningstar | Intesa Sanpaolo's 3Q: CEO Strikes Confident Tone During Call, but Revenue Growth Slows

Intesa Sanpaolo reported pretax profits of EUR 1.4 billion for the third quarter of 2018, this represents a 13% increase compared with the corresponding period in 2017. Intesa Sanpaolo CEO Carlo Messina struck a very confident tone during the earnings call, highlighting Intesa’s good growth prospects, profitability, and its strong performance in the European Banking Authority stress tests. He also believes that the fundamentals for the Italian economy remains sound. Messina believes that the market is pricing in an “Armageddon” scenario for Intesa Sanpaolo and for Italy. While we agree with mo...

Johann Scholtz

Intesa Sanpaulo's 3Q 2018: CEO Strikes Confident Tone During Call, but Revenue Growth Slows Down

Intesa Sanpaulo reported pretax profits of EUR 1.4 billion for the third quarter of 2018, this represents a 13% increase compared with the corresponding period in 2017. Intesa Sanpaulo CEO Carlo Messina struck a very confident tone during the earnings call, highlighting Intesa’s good growth prospects, profitability, and its strong performance in the European Banking Authority stress tests. He also believes that the fundamentals for the Italian economy remains sound. Messina believes that the mar...

Jean Sassus ...
  • Steven Gould

Intesa Sanpaolo : Q3 2018: the group is delivering the goods on the main points

>Q3 2018 release ahead of expectations & reassuring message - Net profit better than expected at € 833m (+6% vs € 789m consensus), confirming the positive trend at the operating level (revenue, costs, provisions) – the group is on track to meet its net profit guidance for 2018 (= €3.8bn) with ~90% achieved over 9 months (including Intrum).Nice surprise mainly in the top line (+2% vs cons) and provisions (-14% vs consensus), while costs were in line.Reassuri...

Jean Sassus ...
  • Steven Gould

Intesa Sanpaolo : T3 2018 : le groupe répond présent sur les points clés

>Publication T3 2018 supérieure aux attentes & message rassurant - RN supérieur aux attentes à 833 M€ (+6% vs 789 M€ cons) confirmant l’évolution favorable de l’opérationnel (revenus, coûts, provisions) – le groupe est bien placé pour atteindre sa cible de RN en 2018 (=3.8 Md€) avec ~90% de réalisé sur 9 mois (incluant Intrum).Bonne surprise principalement liée à la top line (+2% vs cons) et les provisions (-14% vs cons) alors que les coûts ressortent en ligne.§...

Alex Koagne ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jean-Baptiste Rouphael
  • Olfa Taamallah
  • Valentin Pernet
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/05/2018

...

1 director sold

A director at Intesa Sanpaolo SPA sold 15,017 shares at 1.985EUR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of b...

Baptiste Lebacq ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jean Sassus
  • Louis Boujard
  • Matthias Desmarais
  • Olivier Lebrun
  • Philippe Ourpatian
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Zlowodzki
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/07/2018

Italy’s economy had slowed down in the first half of the year. It stagnated in Q3. In October, some indicators raise fears of a slide back into recession. Over the past six months, the situation has deteriorated both politically (Rome-Brussels relations) and financially (increase in the risk premium). Rising financing costs may crowd out private demand. Fiscal stimulus is therefore aggravating problems rather than resolving them. To dispel the “wait-and-see” sentiment, it is urgent t...

Baptiste Lebacq ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • Jean Sassus
  • Louis Boujard
  • Matthias Desmarais
  • Olivier Lebrun
  • Philippe Ourpatian
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Zlowodzki
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/11/2018

L’économie italienne avait ralenti au premier semestre. Elle a stagné au T3. En octobre, certains indicateurs laissent craindre une rechute en récession. Depuis six mois, la situation se dégrade au plan politique (relations Rome-Bruxelles) et financier (hausse de la prime de risque). Le renchérissement des coûts de financement risque d’évincer la demande privée. La relance budgétaire aggrave donc les problèmes au lieu de les résoudre. Pour lever le climat d’attentisme, il est urgent d...

Jean Sassus ...
  • Jerôme Bodin
  • Pierre Tegner
  • Steven Gould
  • Sylvain Goyon
  • Thomas Zlowodzki

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/16/2018

Although our Q4 asset allocation was undermined by the Italian budget episode, the outcome of which is both unclear and still some way off, our tactical value call provides a welcome consolation prize. But we need to be sure not to rest on our (meagre) laurels. Bringing together the conditions required for a continuation of this trend (cycle, rate hikes) already looks tricky for next year. - ...

Jean Sassus ...
  • Jerôme Bodin
  • Pierre Tegner
  • Steven Gould
  • Sylvain Goyon
  • Thomas Zlowodzki

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/10/2018

Alors que notre allocation T4 est mise à mal par l’épisode budgétaire italien dont l’issue incertaine est lointaine, le « lot de consolation » que représente notre call tactique en faveur de la value est le bienvenu. Attention toutefois à ne pas s’endormir sur ces (maigres) lauriers. Les conditions d’une continuation de cette tendance (cycle, progression des taux) paraissent déjà bien délicates à réunir l’an prochain. - ...

Alex Koagne ...
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Léopold Authié
  • Nicolas Kieffer
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/13/2018

...

Ibrahim Firdaus

Intesa Sanpaolo

INTESA SANPAOLO sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of INTESA SANPAOLO (IT), a company active in the Money Center Banks industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 25, 2018, the closing price was EUR 2.47 and its potential was estimated at EUR 2.66.

Ibrahim Firdaus

Intesa Sanpaolo

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Ibrahim Firdaus

Intesa Sanpaolo

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Ibrahim Firdaus

Intesa Sanpaolo

ING
Suvi Platerink Kosonen

Italian banks/We prefer Intesa over UniCredit

The two largest Italian banks - UniCredit and Intesa Sanpaolo - continue to be burdened by their large non-performing loans exposure (c.9%) despite measures taken to shore up the positions. That said, new NPL generation has slowed down. UniCredit and Intesa Sanpaolo have solid capital levels, and they generated 120-140bp return on RWA in 1H18. In Italy we favour preferred paper over riskier alternatives, and Intesa over UniCredit.

Expert Corporate Governance Service (ECGS)

Proxy Report - 27/04/2018

In item 4, shareholders are called to a binding vote on the remuneration policy adopted by the Bank for executive Directors and other executives with strategic responsibilities. We strongly regret that short-term performance conditions are only disclosed ex-post, and the Bank has not disclosed the metrics used to calcul ate the CEO's individual bonus in 2018. Therefore, we recommend opposition. In item 8, the Board proposes to approve a new long-term incentive plan consisting of a one-time grant of call options vesting after a performance period of 4 years. The call options will be automatica...

Matthieu DRIOL

Short term view - INTESA SAN PAOLO : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €1.9399. The background trend would be questioned should prices rise above €2.6560.

Matthieu DRIOL

Analyse court terme - INTESA SAN PAOLO : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 1,9399 €. La tendance de fond serait remise en cause en cas de franchissement de 2,6560 €.

Matthieu DRIOL

Short term view - INTESA SAN PAOLO : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €1.9399. The background trend would be questioned should prices rise above €2.6560.

Matthieu DRIOL

Analyse court terme - INTESA SAN PAOLO : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 1,9399 €. La tendance de fond serait remise en cause en cas de franchissement de 2,6560 €.

Valérie GASTALDY

Analyse moyen terme - INTESA SAN PAOLO : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 1,8119 €, puis 1,5733 €. Le franchissement de 2,4700 € remettrait en cause la suite de la baisse.

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