(Finance) – “Our capital will grow and we will have room to evaluate further buybacks. I’m not a super fan of buybacks, but it’s something must be done to offset the cash dividends. I think that now on the market there is too much attention to the short term”. This was said by the Managing Director and CEO of Intesa Sanpaolo, Carlo Messinaduring the conference call with financial analysts on the results of the first quarter of 2024. However, the top manager added, our cash dividend production machine will continue, because we are able to do so”.
I’m still cautious about the outlook because “we don’t need to push the accelerator of the prospects like other banks. I want to lead this bank by delivering results quarter by quarter, we don’t need to increase the share price because we want to do some merger or acquisition operation”, Messina said again . “We we are truly unique in the European context because we have already made our acquisitions, we are a sustainable bank.”
“We are the incumbents of the market – added the CEO of the bank – so we do not need to give promotional, marketing, my mission is to achieve the promises made“.