Intesa lifts profit outlook after second quarter net profit tops forecasts
Intesa lifts profit outlook after second quarter net profit tops forecasts MILAN, July 29 (Reuters) - Italy's biggest bank, Intesa Sanpaolo ISP.MI, raised its yearly profit outlook after its quarterly earnings topped market expectations on Wednesday, as the lender pursues its plan to take over Monte dei Paschi di Siena BMPS.MI.
After shunning a first wave of consolidation in Italy's banking sector that started in late 2023 and ended with Monte dei Paschi's (MPS) €13.5 billion acquisition of Mediobanca in September 2025, Intesa in early June unveiled a €34.5 billion cash-and-share bid for MPS, sparking a new round of dealmaking.
Intesa said it now sees 2026 net profit above €10 billion - the figure it had been targeting until now. Net income in the April-June period came in at €2.8 billion, above a €2.5 billion LSEG forecast.
(Reporting by Valentina Za, editing by Giulia Segreti)
((valentina.za@thomsonreuters.com; +39 02 6612 9526;))
Recent news on Mediobanca Banca Di Credito Finanziario SpA
See all newsItaly - Factors to watch on November 5
Intesa to launch buyout offer for Mediobanca as soon as MPS bid settled
Timeline: World's oldest bank fights for its future as Italian rival nears takeover
Timeline: World's oldest bank fights for its future as Italian rival nears takeover
Brief: Monte Paschi CEO says priority remains maximising value for shareholders