Intesa CEO says bank profits at peak
Reuters
Published Nov 30, 2023 12:06
MILAN (Reuters) - Bank profits are close to peaking, and net fees will again play a prominent role from next year, giving an edge to banks such as Intesa Sanpaolo (BIT:ISP) which has a diversified business model, Chief Executive Carlo Messina said on Thursday.
"There is no doubt that we are currently in a peak phase for bank profits," Messina said.
Italian banks have posted record profits this year thanks to higher interest rates, which lifted lending costs while deposit returns remained very low.
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Written By: Reuters
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