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Jalan Khatib Sulaiman Padang
Sumatera Barat
Phone: +62751705637
Fax: +62751705637
Email:Â bibiet@kopertis10.or.id
Intesa posts 3 bln euro Q4 loss on clean-up, UBI deal costs
by Lawanna Culpin (2021-05-12)
MILAN, Feb 5 (Reuters) - Italy's biggest bank Intesa Sanpaolo posted a 3.3 billion euro ($4 billion) profit for ë¼ì´ë¸Œë² 팅 2020 after a similar-size loss in the fourth quarter when it used an accounting boost from its takeover of rival UBI to fund restructuring and clean-up costs.
Intesa Sanpaolo last year snatched the healthiest among Italy's second-tier banks following a strenuous takeover battle, reaping a multi-billion paper profit thanks to discounted market valuations for banks.
($1 = 0.8348 euros) (Reporting by Valentina Za; editing by Agnieszka Flak)