The Italian banking group Intesa Sanpaolo recorded a net profit of EUR 3.11 billion in 2016, a growth compared to EUR 2.73 billion in 2015, the Group's report says.
As the bank reported, a net profit of EUR 776 million was recorded in the fourth quarter of 2016, compared to EUR 628 million in the third quarter.
In the fourth quarter of 2016, net operating income rose to EUR 1,816 million, an increase of 19.4% compared to the fourth quarter of 2015 which marks an apparent growth trend compared to year-over-year trends from previous quarters of 2016, the report says.
Furthermore, the operating income in the last three months of 2016 amounted to EUR 4.17 billion, a growth of 4.5% compared to the corresponding quarter of 2015.
Operating expenses also dropped to EUR 8.67 billion and were lower by 0.7% compared to the previous year, due to lower administrative expenditurs, which had been cut by 3.7%, and the mostly stable staff costs, the report adds.
The gross profit in the final quarter of 2016 reached EUR 1.55 billion, compared to EUR 508 million in the fourth quarter of 2015, the report says.
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