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A bank of excellence in support of the real economy

We are the leading banking group in Italy in financial services for households and businesses, ranking among the top five groups in the euro area

~20.5

Million customers in Italy and abroad

4,648

Branches in Italy and abroad

471.6

Billion euro of loans to customers

1,032,315

Milion euro in total assets

96,723

Employees in Italy and abroad

Intesa Sanpaolo: results as at 30 June 2022

The results for the first half of 2022 confirm that Intesa Sanpaolo has been able to generate solid profitability and create value for all its stakeholders even in complex contexts, such as the context characterised by the current events involving Russia and Ukraine and the COVID-19 pandemic, thanks to its well-diversified and resilient business model.

Net income for the first half of the year was €3,276m when excluding write-downs of €1.1bn for Russia and Ukraine , fully in line with the 2022-2025 Business Plan net income target of over €5bn for this year. Stated net income amounted to €2,354m.

The formula of the 2022-2025 Business Plan and, specifically, the 2025 net income target of €6.5bn are confirmed. The implementation of the Plan is proceeding at full speed, with the key industrial initiatives well underway.

Value generation for all stakeholders is also grounded in the strong ESG commitment of Intesa Sanpaolo. In the first half of the year, this translated, among other actions, into a one-off contribution of around €50m to the Group’s people (excluding the managers) to mitigate the impact of inflation and into several humanitarian initiatives to support people of the Group’s subsidiary Pravex Bank and the Ukrainian population.

Significant ESG commitment, also with a world-class position in social impact and strong focus on climate and reinforcement of the ESG governance, with the Risks Committee which became the Risks and Sustainability Committee, with enhanced ESG responsibilities.

Intesa Sanpaolo is the only Italian bank listed in the Dow Jones Sustainability Indices and ranks first among European banks in three of the top ESG international assessments: MSCI, Sustainalytics and Bloomberg ESG Disclosure Score. Furthermore, Intesa Sanpaolo received the S&P Global Sustainability Award – Bronze Class in February 2022 and has been:

  • - included for the fifth consecutive year in the Bloomberg Gender-Equality Index (GEI) 2022, obtaining a score well above the average of the global financial sector and of Italian companies;
  • - the first bank in Europe in the Refinitiv Diversity & Inclusion Index among the top 100 companies for diversity and inclusion;
  • - among the first in Europe to receive the Gender Equality European & International Standard (GEEIS Diversity), the prestigious international certification assessing the commitment to diversity and inclusion.
Outlook

The industrial initiatives of the 2022-2025 Business Plan are well underway and the net income target of 6.5 billion euro in 2025 is confirmed.

For 2022, a best-in-class profitability is envisaged:

  • net income of more than 4 billion euro assuming no critical changes to commodity / energy supplies;
  • net income well above 3 billion euro even assuming, on a very conservative basis, a coverage of around 40% on the Russia-Ukraine exposure, which implies the transfer of most of the exposure to Stage 3.

A solid capital position is envisaged, with a fully phased-in Common Equity Tier 1 ratio target above 12% over the 2022-2025 Business Plan horizon, in accordance with Basel 3 / Basel 4 regulations.

A strong value distribution is envisaged:

  • a payout ratio of 70% of the consolidated net income in each year of the Business Plan (1,648 million euro already accrued on 1H22 net income);
  • the Board of Directors envisaged the distribution of a cash interim dividend of at least 1.1 billion euro on the 2022 results. The Board will discuss the resolution regarding the interim dividend on 4.11.22, when it meets to approve the consolidated results as at 30.9.22, in relation to both the results of the third quarter 2022 and those foreseeable for the fourth quarter 2022.
  • additional distribution to shareholders of 3.4 billion euro through a buyback(*), of which 1.7 billion euro underway and 1.7 billion euro to be executed subject to resolution, by the date of approval of the results as at 31.12.22, of the Board of Directors;
  • any additional distribution to be evaluated on a yearly basis starting from 2023.

The outlook for 2022 is subject to fine-tuning in the coming months based on the evolution of the events involving Russia and Ukraine.

 

(*) Amount equivalent to the 2019 suspended dividend

A solid bank at the service of the country’s development

HQ Intesa Sanpaolo

We endeavour to guarantee our sound capital base and the sustainability of results over time, striving to create a relationship of trust with our customers, our shareholders and the territories in which we operate. In Italy, where we have the largest network of bank branches in the country, we aim to act as the driver of the real economy and make our contribution to community development. We also operate in 37 countries.

Our business model

Conscious of the value of our activity in Italy and abroad in Europe, Egypt and Brazil we promote a style of growth that is attentive to financial strength and capital solidity, sustainable results and the creation of a process based on the trust deriving from customer and shareholder satisfaction, a sense of belonging on the part of our employees and close monitoring of the needs of the community and the local area. We compete on the market with a sense of fair play and are ready to cooperate with other economic entities - both private and public - whenever necessary to reinforce the overall capacity for growth of the economies of the countries in which we operate.

Our business

Our organisational structure includes six divisions operating in Italy and abroad

Banca dei Territori

Focus on the market and the territory for stronger relations with individuals, SMEs and non-profit entities

IMI Corporate & Investment Banking

A global partner supporting corporates, financial institutions and public administration in Italy and in 25 countries

International Subsidiary Banks

Includes the commercial banking subsidiaries with a strategic presence in Central Eastern Europe, the Middle East and North Africa

Private Banking

Serves the customer segment consisting of Private clients and High Net Worth Individuals with tailored products and services

Asset Management

Asset management solutions targeted at the Group’s customers, commercial networks outside the Group, and institutional clientele

Insurance

Insurance and pension products tailored for the Group’s clients

Donna in città

A leader in Italy operating on a European scale, we offer our customers a strategic presence in markets with a high growth potential.

WHERE WE ARE IN THE WORLD
Donna al computer

People are the key to our success

Not just bankers: our people have a wide range of talents but are united by the commitment to ensuring the group's growth. We want to help them fulfil their professional and personal ambitions: we invest in training to develop skills, we work to create a context that enhances diversity and promotes well-being.

pepper robot
Ragazzi collaborano divertendosi
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