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    Intesa announces higher profit amid branch cut report

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    euronews (in English)

    by euronews (in English)

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    Intesa Sanpaolo, which has more branches than any other bank in Italy, has reportedly told unions it could merge or close nearly one fifth of them to cut costs.

    At the same time, Chief executive, Enrico Cucchiani, told shareholders at the annual general meeting in Turin that the bank would not be able to repeat its first-quarter performance for the rest of the year.

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    http://www.euronews.net/