Intesa: Shock Losses but Shares Rise - Presented by: The Aol. On Network

Out with the old and in with the new. Intesa Sanpaolo - Italy's biggest retail bank - has been spring cleaning. It posted a shock net loss of 4.55 billion euros thanks to heavy writedowns on bad loans and impairments. Then followed it up with a fresh new business plan designed to deliver profits. That cheered investors and lifted shares by 5 percent in morning trade. Dominic Elliott is from Reuters Breakingviews says it's a timely move.



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