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

By FeaturesDow 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.

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.

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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)