UPDATE 2-Intesa SP hikes profit outlook, Q3 net tops f'cast

Tue Nov 10, 2009 6:38pm GMT
 
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* Q3 net 674 mln euros, tops analysts' forecast

* Return to dividend on 2009 results

* Shares end up 1.55 pct, outpacing sector

(Adds CEO comments, share price, forecast)

By Ian Simpson

MILAN, Nov 10 (Reuters) - Italy's biggest retail bank Intesa Sanpaolo SpA (ISP.MI) on Tuesday raised its forecast for full-year net profit and said it planned to sell or list billions of euros in assets by spring to boost capital.

Intesa Sanpaolo posted third-quarter net profits of 674 million euros ($1.01 billion), unchanged from last year, helped by trading profits.

The results blew past an average estimate of 461.5 million euros by analysts in a Thomson Reuters I/B/E/S forecast.

Chief Executive Corrado Passera said the bank's net profit could be about 2.5 billion euros this year even before a capital gain of about 260 million euros from the sale of a stake in its Findomestic consumer lending unit.  Continued...

 

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