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

Christophe Chaput ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/03/2019

The de-rating visible since end-September 2018 largely integrates the areas of uncertainty hanging over the stock. It is now time to focus on Thales’ strengths and the levers that the integration of Gemalto will offer. Buy, target price of € 130 vs € 126. - ...

Christophe Chaput ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/07/2019

Le de-rating visible depuis fin septembre 2018 intègre désormais largement les incertitudes qui entourent le titre. Il est temps de se tourner vers les atouts de Thales et les leviers que va offrir l’intégration de Gemalto. Achat – OC de 130 € vs. 126 €. - - ...

Jean Sassus ...
  • Steven Gould

ODDO : Nouvelle étude d’impact “Bâle 4” de l’EBA : pas de changement majeur

>Etude d’impact « Bâle 4 » mise à jour - L’EBA publie une nouvelle étude sur l’impact de « Bâle 4 » (version finale de Bâle 3). Comme pour la précédente, (mars 2019), les hypothèses sont conservatrices :Application des règles 2027 aux bilans arrêtés à fin juin 2018 en excluant toute adaptation sur la période.Exclusion des aménagements propres à la transposition en droit européen.Risques de marché calculés avec la version de décembre 2016 au lieu de la d...

Jean Sassus ...
  • Steven Gould

ODDO : New “Basel IV” impact study from the EBA: no major changes

>Basel IV impact study updated - The EBA has published a new study on the impact of “Basel IV” (final version of Basel III). As with the preceding study (March 2019), the assumptions are conservative:Application of 2027 rules to the balance sheets at end-June 2018 and excluding any adaptation over the period.Exclusion of adjustments specific to the transposition into European law.Market risks calculated with the December 2016 version instead of the late...

1 director sold

A director at Intesa Sanpaolo SPA sold 10,000 shares at 1.889EUR and the significance rating of the trade was 51/100. 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...

Moody's downgrades to A2 from A1 Intesa Sanpaolo's public sector covered bonds

Rating Action: Moody's downgrades to A2 from A1 Intesa Sanpaolo's public sector covered bonds. Global Credit Research- 25 Jan 2019. Paris, January 25, 2019-- Moody's Investors Service has today downgraded to A2 from A1, the rating assigned to Intesa Sanpaolo S.p.A.- Public-Sector Covered Bonds, issued by Intesa Sanpaolo S.p.A and governed by the Italian covered bond legislation.

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.

Christophe Chaput ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/03/2019

The de-rating visible since end-September 2018 largely integrates the areas of uncertainty hanging over the stock. It is now time to focus on Thales’ strengths and the levers that the integration of Gemalto will offer. Buy, target price of € 130 vs € 126. - ...

Christophe Chaput ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/07/2019

Le de-rating visible depuis fin septembre 2018 intègre désormais largement les incertitudes qui entourent le titre. Il est temps de se tourner vers les atouts de Thales et les leviers que va offrir l’intégration de Gemalto. Achat – OC de 130 € vs. 126 €. - - ...

Jean Sassus ...
  • Steven Gould

ODDO : Nouvelle étude d’impact “Bâle 4” de l’EBA : pas de changement majeur

>Etude d’impact « Bâle 4 » mise à jour - L’EBA publie une nouvelle étude sur l’impact de « Bâle 4 » (version finale de Bâle 3). Comme pour la précédente, (mars 2019), les hypothèses sont conservatrices :Application des règles 2027 aux bilans arrêtés à fin juin 2018 en excluant toute adaptation sur la période.Exclusion des aménagements propres à la transposition en droit européen.Risques de marché calculés avec la version de décembre 2016 au lieu de la d...

Jean Sassus ...
  • Steven Gould

ODDO : New “Basel IV” impact study from the EBA: no major changes

>Basel IV impact study updated - The EBA has published a new study on the impact of “Basel IV” (final version of Basel III). As with the preceding study (March 2019), the assumptions are conservative:Application of 2027 rules to the balance sheets at end-June 2018 and excluding any adaptation over the period.Exclusion of adjustments specific to the transposition into European law.Market risks calculated with the December 2016 version instead of the late...

Jean Sassus ...
  • Steven Gould

ODDO : More than ever it is capital that dictates the sector

In this study, we present the state of play of the European banking sector with regards to the core issue of solvency (regulatory impact, etc.). Our analysis reveals to what extent this: 1/ is a significantly differentiating factor and 2/ should determine strategic direction within the sector. Lastly, it establishes a hierarchy that contains no major surprises and which underpins our preference for CASA (Buy, target price € 15.5). - >Generating surplus capital and solvency...

1 director sold

A director at Intesa Sanpaolo SPA sold 10,000 shares at 1.889EUR and the significance rating of the trade was 51/100. 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...

Jean Sassus ...
  • Laurence Hofmann
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/29/2019

...

Jean Sassus ...
  • Laurence Hofmann
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/05/2019

...

Alexandre Iatrides ...
  • Jean Sassus
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/22/2019

...

Alexandre Iatrides ...
  • Jean Sassus
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/05/2019

...

Benoit Valleaux ...
  • Bruno Cavalier
  • Jean Sassus
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Samantha Jeary
  • Steven Gould
  • Valentin Pernet

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/13/2019

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An increasingly favourable environment allows INTESA SANPAOLO to improve to Neutral

The independent financial analyst theScreener just upgraded the general evaluation of INTESA SANPAOLO (IT), a company active in the Money Center Banks industry. As regards its fundamental valuation, the title confirms its rating of 3 out of 4 stars while its market behaviour remains as risky. theScreener believes, however, that a more enabling environment allows the title to increase its general evaluation to Neutral. As of the analysis date April 12, 2019, the closing price was EUR 2.28 and its expected value was estimated at EUR 2.15.

Ibrahim Firdaus

Intesa Sanpaolo

Ibrahim Firdaus

Intesa Sanpaolo

Ibrahim Firdaus

Intesa Sanpaolo

Ibrahim Firdaus

Intesa Sanpaolo

ING
Suvi Platerink Kosonen

European banks/How deep is your NPS need

We take a look at the European banks bail-in senior issuance plans for 2019 after the lively start to the year. We continue to see value in bail-in senior paper over preferred senior debt and note that several banks are already very well positioned in terms of their full year issuance plans.

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.

MarketLine Department

Unione di Banche Italiane SCpA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Unione di Banche Italiane SCpA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Unione di Banche Italiane SCpA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its c...

MarketLine Department

UniCredit S.p.A - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's UniCredit S.p.A Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by UniCredit S.p.A since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Hig...

MarketLine Department

Banca Monte dei Paschi di Siena SpA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Banca Monte dei Paschi di Siena SpA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Banca Monte dei Paschi di Siena SpA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sus...

MarketLine Department

Mediobanca Banca di Credito Finanziario S.p.A. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Mediobanca Banca di Credito Finanziario S.p.A. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Mediobanca Banca di Credito Finanziario S.p.A. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by ...

MarketLine Department

BPER Banca Spa - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

BPER Banca Spa - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's BPER Banca Spa Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by BPER Banca Spa since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activi...

Expert Corporate Governance Service (ECGS)

Intesa Sanpaolo - 30 April 2019

In item 7, the AGM is called to appoint the members of the Board of Directors and the Audit Committee, on slates of nominees submitted by shareholders holding, even jointly, at least 0.5% of Intesa Sanpaolo's shares. The first candidate in the second most voted slate shall be appointed as Chairperson of the Audit Committee. Both the slate submitted by a group of banking foundations (sub-item 7.1) and a group of institutional investors (sub-item 7.2) include a large majority of independent nominee Directors. We would support the appointment of the institutional investors' nominee Chair of the ...

Intesa – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

EU and UK Financials remain actionable Our outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains positive and we continue to expect higher equity prices going forward. Below we highlight several new developments which give us additional confidence in our outlook, including but not limited to continued price and RS improvements for UK/European Financials. • Actionable Sector: Financials. Today's stock recommendations go beyond UK and European Financials, however these regions are the primary focus due to a plethora of attractive setups. In today's report we reiterate our 3/21...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

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 €.

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