HALISTER: Intesa 1Q Net Beats; Keeps Commitment on EU3b Cash Dividends

Intesa 1Q Net Beats; Keeps Commitment on EU3b Cash Dividends

(Bloomberg) -- Intesa 1Q net income EU806m compares with est. EU702.9m, EU1.06b year earlier.
  • 1Q total revenue EU4.09b vs est. EU4.07b
  • 1Q net interest income EU1.88b vs est. EU1.92b
  • 1Q net commissions EU1.71b vs est. EU1.84b
  • 1Q loan loss provisions EU694m vs est. EU704m
  • CET1 ratio on a transitional basis 12.9% end-March vs 13% end-Dec.
  • Confirms commitment to distribute EU3b cash dividends
  • Intesa expects to record improvement in revenue, op margin in 2016
  • Shares erase losses after release
  • Statement
  • PREVIEW here
  • Related
    • Intesa is trading on 8.8x next year’s earnings vs 8.5x for Stoxx 600 Banks index: Bloomberg data
    • Of 35 analyst ratings, 24 are buy, 9 hold, 2 sell
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ISP IM (Intesa Sanpaolo SpA)

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UUID: 7947283

(2) *EVONIK BUYS PERFOMANCE MATERIALS FROM AIR PRODUCTS FOR $3.8B

*EVONIK BUYS PERFOMANCE MATERIALS FROM AIR PRODUCTS FOR $3.8B

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
APD US (Air Products & Chemicals Inc)
EVK GR (Evonik Industries AG)

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UUID: 7947283

HALISTER: Bank of America’s Russia Equity Head Abbott Said to Leave Firm

Bank of America’s Russia Equity Head Abbott Said to Leave Firm

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
BAC US (Bank of America Corp)
BARC LN (Barclays PLC)

People
Will Abbott (Bank of America Corp)
Nicholas Harwood (UBS Securities LLC)
Nick Harwood
Rair Simonyan (UBS Asset Management Japan Ltd)

Topics
Financial Firm Departures
Who's News - People
Management Changes

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UUID: 7947283