By Pietro Lombardi

Intesa Sanpaolo SpA (ISP.MI) said Wednesday that second-quarter net profit rose, supported by lower provisions for bad loans and lower costs.

Quarterly net profit was 1.22 billion euros ($1.36 billion) compared with EUR927 million a year earlier.

Operating income, the bank's top-line figure, was EUR4.68 billion compared with EUR4.61 billion a year earlier.

Analysts had seen the bank's net profit at EUR899.5 million on revenue of EUR4.29 billion, according to a consensus forecast provided by FactSet.

Net interest income--the difference between what lenders earn from loans and pay for deposits, and a key profit driver for retail banks--was EUR1.76 billion, compared with EUR1.84 billion.

The bank's operating costs declined to EUR2.27 billion from EUR2.31 billion. Provisions for bad loans declined, to EUR554 million from EUR694 million.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

July 31, 2019 07:48 ET (11:48 GMT)

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