Intesa Sanpaolo on Friday posted a first-quarter net profit of 2.76 billion euros, which was better than analysts had expected and up 5.6% on the 2.61 billion profit made in the equivalent period last year.
    Italy's biggest bank said it expected to make a net profit of around 10 billion euros this year, with income mainly driven by commissions and insurance income, with increasing net interest income also thanks to core deposit hedging and volume growth.
    It said payout ratio of 95% is envisioned for 2026, including 75% through cash dividends and 20% through buyback.
    "We have recorded our best quarterly and first-quarter net result ever, amounting to €2.8 billion, thanks to the positive contribution from all revenue components and cost reductions," said Intesa Sanpaolo's CEO Carlo Messina.
    "With one of the highest shareholder remunerations in the European banking landscape, we will return approximately €9.4 billion to shareholders this year, considering the final dividend in May, the buyback in July, and the expected interim dividend in November".

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