By Pietro Lombardi

Intesa Sanpaolo SpA stroke a positive tone on its profit outlook for the year as it reported an increase in second-quarter net profit.

The Italian bank said Wednesday that it expects a profit of at least 4 billion euros ($4.75 billion) this year, having previously guided for profits "well above" EUR3.5 billion.

Quarterly net profit was EUR1.51 billion compared with EUR1.42 billion a year earlier, according to figures that take into account the inclusion of the UBI Group for the pre-acquisition period.

Operating income, the bank's main top-line figure, rose to EUR5.18 billion from EUR4.84 billion supported by growing fees and commissions.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

August 04, 2021 07:24 ET (11:24 GMT)

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