Italian lender Intesa Sanpaolo S.p.A. (IITSF.PK) reported that its fourth-quarter net loss narrowed to 83 million euros, from $10.119 billion euros in the same quarter last year. The prior year quarter result included goodwill impairment of 10.233 billion euros. Net income before goodwill impairment came to 114 million euro in fourth-quarter of 2011.
Net interest income for the quarter was 2.181 billion euros, down 14.2% from 2.541 billion euros in the year ago quarter. Net fee and commission income amounted to 1.479 billion euro, up 10.5% from 1.339 billion euros in the prior year quarter.
The company stated that its Management Board has decided to propose at the next Ordinary Shareholders’ Meeting the distribution of approximately 832 million euros cash dividends, paying out 5 euros cents on ordinary shares and 6.1 euros cents on saving shares, before tax.
The dividend payment, if approved at the Shareholders’ Meeting, will start from May 23rd 2013 (with coupon presentation on May 20th and record date on May 22nd). The dividend yield is 4% per ordinary share and 5.8% per savings share, based on the Intesa Sanpaolo stock price on March 11th 2013.
The company said that in 2013, it will continue to prioritise the delivery of sustainable results. Attention will be strongly focused both on profitability targets and on actions aimed at strengthening the capital base and improving the profile of risk and liquidity. Risk management systems will be further bolstered and the Group’s efficiency and productivity will be constantly addressed, the company said.
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by RTT Staff Writer
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