Italian bank Intesa Sanpaolo sees Q2 profits up on cost cuts
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August 4, 2020 6:03 AM
MILAN (AP) — Italian bank Intesa Sanpaolo, fresh off its successful hostile takeover of a smaller rival to create Italy’s largest bank, on Tuesday posted a 16% increase in second-quarter profits as it cut costs and increased loan loss provisions against possible future impact from the COVID-19 pandemic.
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