Intesa Third-Quarter Profit Rises on Lower Provisions
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Intesa Sanpaolo SpA, Italy’s second-largest bank, said profit more than doubled in the third quarter, as it set aside less money for bad loans and posted higher revenue from commissions.
Net income rose to 483 million euros ($600 million) in the three months through September from 218 million euros a year earlier, the Milan-based bank said in a statement today.