Business · Companies · 9 hrs ago
Intesa Sanpaolo posts €8.2bn profit and raises MPS offer exchange ratio
Intesa Sanpaolo reported €8.2bn in net profit for the first nine months of the year, up 8.1% from the same period last year.
The Italian bank said the result was its highest for any first nine months and raised its full-year profit forecast to well above €10bn.
It increased the share exchange ratio in its offer for Monte dei Paschi di Siena, from 1.6 to 1.664 newly issued Intesa shares for each MPS share accepted.
The adjustment is intended to offset the effect of Intesa's €3.8bn interim dividend.
Intesa's chief executive said he remained confident in the MPS deal, after MPS shareholders rejected all proposals put forward by the bank's management.
The planned combined group aims to earn more than €16bn in net profit in 2029, while Intesa also promises increased lending and new technology and commercial centres in Siena and Tuscany.
The deal is expected to close in late 2026 or early 2027, subject to decisions by competition authorities; Intesa says it will then make a mandatory offer for Mediobanca.
Intesa Sanpaolo reported net profit of €8.2 billion for the first nine months of 2026, up 8.1% from the same period a year earlier.
The bank raised its forecast for full-year net profit to well over €10 billion.
Its board raised the exchange ratio in its offer for Monte dei Paschi di Siena from 1.6 to 1.664 newly issued Intesa shares for each MPS share tendered.
The change is intended to offset the effect of Intesa’s €3.8 billion interim dividend.
Chief Executive Carlo Messina said the bank remained confident in its MPS project.
- Who
- Intesa Sanpaolo, led by Chief Executive Carlo Messina, and Monte dei Paschi di Siena shareholders.
- What
- Intesa reported €8.2 billion in nine-month net profit and raised its exchange ratio for its offer for MPS.
- When
- The results were reported on November 3, 2026.
- Where
- Not stated
- Why
- Intesa raised the ratio to fully offset the effect of its interim dividend payment.
MPS shareholders
MPS management
Aspect
MPS shareholders
The shareholders rejected all proposals put forward by MPS management at the meeting.
MPS management
Management’s proposals were rejected; the article does not state its position on the outcome.
This story does not have a timeline yet.
- Nine-month net profit
- €8.2 billion
- Year-on-year profit growth
- 8.1%
- Full-year profit forecast
- Well over €10 billion
- Interim dividend
- €3.8 billion
- MPS offer exchange ratio
- 1.664 new Intesa shares per MPS share tendered
What people are saying
We are convinced of the solidity of the MPS project
The outcome of the shareholders’ meeting strengthens our confidence in the execution
A very clear message