Intesa Sanpaolo

ISP: XMIL (ITA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€9.90	Czqb	Kscmryxmr

Intesa: Right Bank in the Wrong Place

Johann Scholtz

Jul 12, 2021

Business Strategy and Outlook

Intesa Sanpaolo is the best-run bank in Italy, but the weakness of the Italian banking system erodes whatever competitive advantage Intesa may have.

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