The Board of Directors of Intesa Sanpaolo approved the draft financial statements and the consolidated financial statements at 31 December 2017. Net profit of €4.882 million, up on 2016 (€1.760 million in 2016, €1.680 million restated for corporate transactions in 2017 ) and 7.316 million euro at consolidated level, a figure which includes the public contribution of 3,5 billion euro to offset the impact on capital ratios deriving from the acquisition of Popolare di Vicenza and Veneto Banca.
The approval of the draft financial statements includes that of the proposal for the allocation of the profit for the year and the distribution of reserves, which implements the proposal already formulated by the Board of Directors disclosed to the market on 6 February.
On 27 April, therefore, the Ordinary Shareholders' Meeting will meet to definitively approve the financial statements as at 31 December 2017 and the cash distribution of 20,3 euro cents per ordinary share and 21,4 euro cents per savings share, gross of legal withholdings.
The Board's proposal envisages the cash distribution of 3,5 billion euro resulting from a unit amount of 20,3 euro cents for each of the no. 15.859.786.585 ordinary shares and 21,4 euro cents for each of the no. 932.490.561 savings shares. No distribution will be made to any treasury shares that the Bank may hold at the record date.
The cash distribution, if approved by the Shareholders' Meeting, will take place starting from 23 May 2018, with coupon detachment on 21 May and record date on 22 May.
