Intesa Sanpaolo's 1Q Net Profit Rises by 12%

By Giovanni Legorano Features Dow Jones Newswires

Intesa Sanpaolo SpA said Friday its first-quarter net profit rose by 12% on the year before, mainly reflecting higher fees and commissions that offset declining revenue from lending and insurance.

Continue Reading Below

The Italian bank's net profit for the quarter stood at 901 million euros ($984 million), compared with EUR806 million for the same quarter of 2016.

Revenue increased by 1% to EUR4.21 billion.

Write to Giovanni Legorano at giovanni.legorano@wsj.com

(END) Dow Jones Newswires

May 05, 2017 07:37 ET (11:37 GMT)