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Intesa Sanpaolo Q3 net interest income shrinks, shares fall
November 3, 2015 / 12:28 PM / 2 years ago

Intesa Sanpaolo Q3 net interest income shrinks, shares fall

MILAN, Nov 3 (Reuters) - Intesa Sanpaolo posted a lower net interest income in the third quarter amid weaker interest rates and a slump in trading profit, sending its shares down 4 percent.

Net profit came in at 722 million euros, higher than an analyst consensus compiled by Reuters of 667 million euros.

However, the shares turned negative after the results were released as the market took fright at a decline in net interest income, a measure of how much money a commercial bank makes from its core retail business.

It came in at 1.912 billion euros, down 9.3 percent from a year ago.

On the bright side, capital strength improved, with the core capital ratio rising marginally to 13.4 percent from 13.3 percent. (Reporting by Silvia Aloisi)

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