Intesa Becomes EU’s Largest Listed Lender After Stock Surge
- Italian bank’s market cap exceeds Santander, BNP Paribas
- Intesa has posted resilient results this year, raised guidance
An Intesa Sanpaolo bank branch in Turin, Italy.
Photographer: Francesca Volpi/BloombergThis article is for subscribers only.
Intesa Sanpaolo SpA became the European Union’s largest lender by market value for the first time, overtaking Banco Santander SA after a surge in the Italian bank’s share price this year.
At €69.6 billion ($77.1 billion), Intesa’s market capitalization is now slightly more than Santander, which held top spot on Monday, after declines in both stocks on Tuesday. The banks are both similar in value to France’s BNP Paribas SA, the region’s long-time leader.