(Bloomberg) -- Intesa Sanpaolo SpA Chief Executive Officer Carlo Messina promised to increase the firm’s profitability by cutting expenses.
The lender will also raise fee income, Messina said Thursday at Bloomberg’s Future of Finance event in Milan.
“I want to prepare the bank to become the leader also in net income” in the next years, he said.
Intesa has been experiencing a stock rally over the past two years, briefly turning it into the European Union’s most highly valued lender earlier this week.
Messina is counting on insurance, asset and wealth management to lift fee income as the tailwind from high interest rates starts to fade. He indicated in July the bank may end up exceeding previous profit guidance.
--With assistance from Antonio Vanuzzo.
©2024 Bloomberg L.P.
