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

Aurelien Sivignon ...
  • Christophe Chaput
  • Geoffroy Michalet
  • Jean Sassus
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas Thorez
  • Stephane Houri
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 01/16/2019

...

Aurelien Sivignon ...
  • Christophe Chaput
  • Geoffroy Michalet
  • Jean Sassus
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas Thorez
  • Stephane Houri
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 16/01/2019

...

François Maury ...
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Olfa Taamallah
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/16/2019

...

François Maury ...
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Olfa Taamallah
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/01/2019

...

Jean Sassus ...
  • Steven Gould

ODDO : Bank of Italy’s statistics for November 2018: more visible economic impact from tension in the budget

>Banking activity – a soft patch, but growth still solid - According to end-November data reported by the Bank of Italy, private sector loans (adjusted for securitisation) rose +2.5% y-o-y. Although this does point to a slowdown, it also confirms the favourable momentum since the start of the year and the gradual upturn in activity since H2 2017 (+1.8% y-o-y at end-December 2017) even though the Italian economic climate has been struggling since Q3.Loans to Itali...

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.

Jean Sassus ...
  • Steven Gould

ODDO : Bank of Italy’s statistics for November 2018: more visible economic impact from tension in the budget

>Banking activity – a soft patch, but growth still solid - According to end-November data reported by the Bank of Italy, private sector loans (adjusted for securitisation) rose +2.5% y-o-y. Although this does point to a slowdown, it also confirms the favourable momentum since the start of the year and the gradual upturn in activity since H2 2017 (+1.8% y-o-y at end-December 2017) even though the Italian economic climate has been struggling since Q3.Loans to Itali...

Jean Sassus ...
  • Steven Gould

ODDO : Statistiques BdI – novembre 2018 : impact économique plus visible des tensions budgétaires

>Activité bancaire : coup de mou mais croissance encore solide - Selon les données à fin novembre publiées par la Banque d’Italie, les crédits (ajustés de la titrisation) au secteur privé ont augmenté de +2.3% yoy. Il s’agit d’un certain ralentissement mais cela confirme la bonne dynamique depuis le début d’année et la reprise graduelle de l’activité depuis le S2 2017 (pour rappel +1.8% yoy à fin décembre 2017) malgré un environnement économique mis à mal en Italie de...

Sylvain Goyon

Carrefour : Lancement de notre liste Oddo Convictions Large Cap

Nous lançons notre liste de convictions Large Cap. Nous la plaçons sous le signe de la qualité, en privilégiant si possible les structures bilancielles peu endettées, et de la visibilité. Par visibilité, nous entendons la capacité à défendre la génération de free cash-flow, que ce soit par le biais d’un positionnement concurrentiel fort (pricing power) et/ou via l’existence de programmes de rationalisation/ optimisation portés par un management disposant d’un track record éprouvé...

Jean Sassus ...
  • Steven Gould

ODDO : Bank of Italy’s data for October 2018: sector holding up so far!

>Banking activity - momentum still favourable at this stage... - According to the Bank of Italy’s data published to end-October, loans (adjusted for securitisation) to the private sector were up +2.7% y-o-y, thereby confirming the healthy momentum observed since the start of the year (in line with the YTD average) and the gradual upturn in activity since H2 2017 (+1.8% y-o-y at end-December 2017) in the wake of Italy’s economic recovery. We are not seeing a notable si...

Jean Sassus ...
  • Steven Gould

ODDO : Statistiques BdI – octobre 2018 : jusqu’ici cela tient !

>Activité bancaire : la dynamique reste favorable à ce stade … - Selon les données à fin octobre publiées par la Banque d’Italie, les crédits (ajustés de la titrisation) au secteur privé ont augmenté de 2.7% yoy, confirmant ainsi la bonne dynamique depuis le début d’année (en ligne avec la moyenne YTD) et la reprise graduelle de l’activité depuis le S2 2017 (pour rappel +1.8% yoy à fin décembre 2017) dans le sillage de celle de l'économie italienne. Nous n’observons à...

1 director sold

A director at Intesa Sanpaolo SPA sold 25,015 shares at 2.051EUR and the significance rating of the trade was 54/100. 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...

Aurelien Sivignon ...
  • Christophe Chaput
  • Geoffroy Michalet
  • Jean Sassus
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas Thorez
  • Stephane Houri
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 01/16/2019

...

Aurelien Sivignon ...
  • Christophe Chaput
  • Geoffroy Michalet
  • Jean Sassus
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas Thorez
  • Stephane Houri
  • Steven Gould

ODDO BHF Small & MIDCAP MORNING NEWS - 16/01/2019

...

François Maury ...
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Olfa Taamallah
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/16/2019

...

François Maury ...
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Olfa Taamallah
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/01/2019

...

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • Jean Sassus
  • Jerôme Bodin
  • Laurence Hofmann
  • Nicolas David
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/12/2018

Are we about to see the deterioration of "actuarial" themes via a repricing linked to the rise in interest rates and therefore a value rotation, or the return to a lacklustre economic environment, resulting in an umpteenth phase where the growth style prevails in 2019? The European equation is particularly complex. While, in the context of monetary normalisation, the macro scenario argues in favour of a hike in interest rates (and therefore value exposure), the reality, which is curre...

Increased risk weighs on INTESA SANPAOLO, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of INTESA SANPAOLO (IT), active in the Money Center Banks industry. As regards its fundamental valuation, the title still shows 3 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date January 11, 2019, the closing price was EUR 2.01 and its target price was estimated at EUR 1.67.

Ibrahim Firdaus

Intesa Sanpaolo

Ibrahim Firdaus

Intesa Sanpaolo

Ibrahim Firdaus

Intesa Sanpaolo

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.

MarketLine Department

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

BPER Banca Spa - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Summary 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. Synopsis Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inor...

MarketLine Department

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

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. Synopsis Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments ...

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.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch