Intesa to pay out over 22 billion euros to investors under new plan

February 4, 2022

MILAN (Reuters) – Intesa Sanpaolo, Italy’s biggest bank by assets, on Friday said it would drive its net profit to 6.5 billion euros ($7.5 billion) in 2025 and reward investors with more than 22 billion euros in dividends and a share buyback over the period.

Intesa posted a 4.2 billion euro net profit for 2021, in line with expectations despite clean-up and restructuring costs in the fourth quarter to prepare for the new three-year plan.

($1 = 0.8729 euros)

(Reporting by Valentina Za; editing by Agnieszka Flak)