ISNPY Intesa Sanpaolo SPA (PK)

By Pierre Bertrand

Intesa Sanpaolo SpA said late Friday that it expects to achieve a fully loaded common equity Tier 1 ratio well above 12% during the course of its business plan to 2025.

The Italian bank, responding to a media report, said it expects the ratio at around 13% as of Dec. 31, 2022.

Bloomberg on Friday, citing unnamed sources, reported the bank was cutting risk-weighted assets by as much as 20 billion euros ($21.71 billion) through the sale of loans and other assets, after the European Central Bank critiqued its risk assessment methodology.

Intesa Sanpaolo said its actions to reduce its risk-weighted assets during the fourth quarter of 2022 relate to regulatory changes by European Banking Authority guidelines applicable as of Jan. 1 and "contribute to the significant value creation and distribution to shareholders."

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

January 23, 2023 02:01 ET (07:01 GMT)

Intesa Sanpaolo (PK) (USOTC:ISNPY)
Historical Stock Chart
From Mar 2024 to Apr 2024

Intesa Sanpaolo (PK) (USOTC:ISNPY)
Historical Stock Chart
From Apr 2023 to Apr 2024