Milan

Intesa Sanpaolo profits hit by taxes

Profits down 11.9% Q3

Intesa Sanpaolo profits hit by taxes

Milan, November 13 - Intesa Sanpaolo posted lower-than-expected third-quarter and nine-month profits Tuesday, blaming a higher tax bill. Italy's biggest bank posted profits of 414 million euros in the third quarter, 11.9% down on the 470 million of the previous quarter. Net operating results in the first ninth months were 1.68 billion euros, down 12.5%.

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