Intesa Sanpaolo reported a net profit of €5.55 billion for the first half of 2026, up 6.5% compared with the same period last year, marking what the bank described as the strongest first-half performance in its history. Net profit for the second quarter alone reached €2.8 billion, an increase of 7% year on year.
Commenting on the results, Chief Executive Officer Carlo Messina said the bank continues to strengthen its ability to generate value for shareholders, forecasting total shareholder distributions of around €9.4 billion in 2026 through dividends and share buybacks. During the first six months of the year, the group has already returned €5.3 billion to shareholders, including €4.2 billion in dividends.
Operating performance also remained solid. Net fee and commission income rose 4.9% to €5.13 billion, while net interest income increased 0.6% to €7.48 billion. The bank also provided approximately €44 billion in new medium- and long-term lending and upgraded its 2026 earnings guidance, now expecting net profit to exceed €10 billion.
During the presentation of the results, Messina also addressed Intesa Sanpaolo's public exchange offer for Banca Monte dei Paschi di Siena (MPS). He confirmed that the transaction is proceeding according to schedule and remains on track to be completed by the end of the year.
“We are strongly committed to moving forward and we are convinced this is the best option for Monte dei Paschi, its shareholders and Intesa Sanpaolo,” Messina said, adding that the combination would create an even stronger and more profitable banking group with around €2 trillion in total assets by 2029 and net profit exceeding €16 billion. He also ruled out any improvement in the terms of the offer, stating: “There is zero possibility that we will increase the offer price.”
In an interview with CNBC Europe, the CEO reaffirmed his determination to complete the acquisition, invoking Mario Draghi's famous 2012 pledge to defend the euro. “I can tell you, just like Mario Draghi, ‘whatever it takes’. This is an objective we want to achieve, and we will do our utmost to complete this merger and acquisition,” he said. According to Messina, acquiring MPS is “fundamental to accelerating our business plan” and would allow the bank “to bring forward the plan's objectives by three years.”
Messina also described Intesa Sanpaolo's proposal as “a good offer” for MPS shareholders, stressing that the bank can provide “something MPS lacks today: stability and transparency in its governance process.” The goal, he concluded, is to offer Monte dei Paschi shareholders “a safe harbour.”
(Associated Medias) - Tutti i diritti sono riservati