The Italian banking group’s net income during the first nine months of 2020 was its second highest in 12 years, although sales of its structured certificates were down 38% year-on-year.

Intesa Sanpaolo has reported net income of €3.1 billion (US3.6 billion) for the first nine months of 2020. It was the group’s second best nine-month net income since 2008, already exceeding the around €3 billion minimum net income target for FY2020. The group maintained a ‘solid’ capital position, with capital ratios well above regulatory requirements. As of 30 September 2020, after the deduction from capital of around €2.3 billion of dividends accrued during th

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