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Intesa Sanpaolo Q4 net profit hit by charges to rescue other banks
February 3, 2017 / 1:21 PM / 8 months ago

Intesa Sanpaolo Q4 net profit hit by charges to rescue other banks

MILAN, Feb 3 (Reuters) - Italy’s top retail bank Intesa Sanpaolo posted a fourth-quarter net profit of 776 million euros ($833 million), a tad lower than analysts’ forecasts, with results hit by contributions it made to rescue funds set up to help weaker domestic rivals.

The net profit figure compares with an analyst consensus compiled by Reuters of 801 million euros.

The bank said its CET 1 ratio, a key measure of financial strength, stood at 12.9 percent at the end of December. ($1 = 0.9316 euros) (Reporting by Silvia Aloisi; editing by Agnieszka Flak)

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