Intesa Sanpaolo Spa Ord (IITSF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon ladies and gentlemen and welcome to the conference call of Intesa San Paolo for the presentation of the first half 25 results hosted today by Mr. Carlo Messina, Chief Executive Officer. My name is Sarah and I will be your coordinator for today's conference. At the end of the presentation there will be a Q&A session. To enter the queue for questions please press star 1 1 at any time. You will then hear an automated message advising that your hand is raised. To withdraw your question, please press star 11 again. You are kindly invited to ask no more than two questions so as to leave room for other participants. In case of additional questions, the IR team will be at disposal after the conference call. I remind you that today's conference is being recorded. At this time, I would like to hand the call over to Mr. Carlo Messina, CEO. Welcome to our first half 2025 results conference call. This is Carlo Messina, Chief Executive Officer, and I'm here with Luca Bocca, our CFO, and Marco De Frade and Andrea Tamagnini, Investor Relations Officers. We are navigating the current geopolitical uncertainty from a position of strength, thanks to our resilient and well-balanced business model. In fact, we just delivered our best-ever six-month net income at 5.2 billion euros. That means a return on equity of 20%, so a return on equity of 20%, 24% on tangible. Earnings per share grew 12% on a yearly basis. Net income in the second quarter was also the best-ever at 2.6 billion euros. These top-notch results are marked by record high commissions and insurance income. And net interest income grew strongly in the second quarter, even as rates declined. And we continue to manage revenues in an integrated manner. I want to stress that the Italian economy continues to show str...