By Helena Smolak


Intesa Sanpaolo issued a 2 billion euros ($2.07 billion) buyback and raised its 2025 net income outlook after its fourth-quarter operating profit significantly outpaced expectations.

The Italian lender said Tuesday that it now expects its 2025 net income to be well above 9 billion euros ($9.31 billion), which it previously guided at 9 billion euros. It will launch a 2 billion euros buyback in June, it said.

Its net profit in the three months to the end of December was 1.50 billion euros, down from 1.60 billion euros in the same period of 2023.

Operating income, its top-line figure, rose to 6.67 billion euros, up from 6.40 billion euros the prior year.

The numbers slightly beat expectations for net profit of 1.49 billion euros and came significantly above operating profit expectations of 3.15 billion euros, according to analysts' estimates provided by Visible Alpha.

Net interest income--the difference between what lenders earn from loans and pay for deposits, and a key profit driver--came in at 3.80 billion euros, down from 3.995 billion euros.

The Turin-based lender declared a final dividend for 2024 of 0.34 euros a share, up from 0.15 euros the year before.

Its common equity Tier 1 ratio--a measure of balance sheet strength--stood at 13.9% at the end of the period.


Write to Helena Smolak at helena.smolak@wsj.com


(END) Dow Jones Newswires

02-04-25 0733ET