Intesa Sanpaolo gives 2007 results

TURIN, March 31 – The Intesa Sanpaolo’s Management Board, chaired by Enrico Salza, approved the drafts of the Parent Company’s financial statements and consolidated financial statements as of 31 December 2007. The statement highlights a positive performance achieved, notwithstanding the negative effects of the financial markets crisis and benefiting only marginally, so far, from merger synergies.
Intesa Sanpaolo also owns the former Italian-Albanian Bank and the American Bank of Albania which, according to papers filed, have also been merged.
Intesa Sanpaolo’s consolidated net income for 2007 amounted to 7,250 million euro, up from 4,707 million in 2006. The net income reflected, on the one hand, the positive impact of significant capital gains, mainly made from the disposal of Cariparma, FriulAdria and 202 branches to Crꥩt Agricole.
The American Bank of Albania has been part of the Intesa Sanpaolo Group since the 30th of June 2007.