Intesa Lifts Outlook Ahead of MPS Bid
Intesa Sanpaolo raised its full year profit outlook after posting strong third quarter earnings. The Italian bank expects net profit to exceed ten billion euros despite new taxes. It is now preparing to launch its buyout offer for rival Monte dei Paschi.
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Intesa Sanpaolo raised its 2026 net profit outlook above €10B ($11B) on Tuesday morning as it prepared to launch a €33B buyout offer for rival Monte dei Paschi di Siena. The upgrade comes despite a €900M earnings hit from Italy's budget law, which hiked taxes on lenders. The higher guidance positions the bank to return 95% of this year's profit to investors through dividends and share buybacks.
