1538 GMT - Intesa Sanpaolo's operating profit exceeded consensus and JPMorgan's estimates driven by higher revenue and lower provisions, JPM analysts say in a note. The Italian lender issued a higher-than-expected buyback of 2 billion euros and raised its 2025 net income target to well above 9 billion euros on the back of expected revenue growth and declining costs, the analysts say. "Overall, fee trends are encouraging and the slight step-up in buyback amounts welcome," they say. Shares are up 1.6% at 4.24 euros.(helena.smolak@wsj.com)
(END) Dow Jones Newswires
February 04, 2025 10:38 ET (15:38 GMT)
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