Sunday, July 13, 2014

Intesa Sanpaolo Q3 profits down 21 percent

February 19. 2013 5:05PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) Italian bank Intesa Sanpaolo SpA says its third-quarter profits fell 21 percent due mainly to higher taxes.

The Milan-based bank reports net income of 414 million (525 million) for the quarter that ended Sept. 30, down from 527 million a year earlier.

The bank says it paid 454 million in taxes, including extraordinary taxes relating to subsidiaries in Slovakia and Hungary. Interest income was down slightly while fees and commissions were flat.

The bank says Tuesday its exposure to Greek bonds totaled 12 million. To Irish bonds its exposure was 132 million and to Portuguese ones 285 million.

Intesa's core Tier 1 ratio, a measure of a bank's health, was 11.1 percent, above European requirements of 9 percent.

The bank's share price was up 1.5 percent to 1.21.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds