Intesa Sanpaolo sees its net profit decrease by 41% in the second quarter compared to 2011 to 470 million, a result that remains better than the consensus of analysts who expected a sharper decline. In the first half of 2012 profit fell by 9,1% to €1,274 billion. Operating income has risen since the beginning of the year by 2,6%, reaching almost 9 billion.
The results of the capital ratios are encouraging with the Core Tier 1 ratio rising to 10,7% from 10,1% at the end of last year and with EBA proforma up 10,1%. The Chief Executive Officer of the banking group, Henry Cucchiani, was satisfied, stating that "the earnings result, despite the decline, is satisfactory within the macroeconomic moment". Cucchiani then underlined the good results of the capital ratios which bring Intesa Sanpaolo to the top of the Eurozone ranking for liquidity and which are "well above what is required by European rules".
