Our 2022-2025 Business Plan

"The strategy is about taking the unique Intesa Sanpaolo model to the next level. Our planning is precise; our execution is disciplined. This is what makes us a delivery machine.

At the core of this strategy is value creation and distribution, guided by a strong sense of purpose to benefit all our stakeholders and Society more broadly."

Carlo Messina - Managing Director and CEO - February 2022

The formula of the 2022-2025 Business Plan

Massive upfront de-risking, slashing Cost of risk

The Group will pursue a structural strategy of de-risking (already launched in the previous Business Plan with significant results) with the ambition to become a Zero-NPL Bank, ranking among the best in Europe in terms of NPL ratios and stock.

The main initiatives include:

  • - Massive NPL stock reduction and continuous preemption through a modular strategy
  • - A new credit decisioning model
  • - Proactive management of other risks


  • - ~1% net NPL ratio(1)
  • - ~40bps Cost of risk(1)


1. Throughout the entire Business Plan horizon

Structural Cost reduction enabled by technology

Strengthening the Bank’s omnichannel propositions and become the leader in Europe in terms of operational efficiency. To do so, we will create a new Digital Bank (named Isybank) and will continue to invest strongly in technology, including through partnerships with top fintechs and artificial intelligence players.

The main initiatives include:

  • - A new Digital Bank and footprint optimization 
  • - Workforce renewal
  • - Smart real estate management
  • - Advanced Analytics-empowered Cost management 
  • - IT efficiency


  • ~€2bn Cost savings
  • ~€5bn investments in technology and growth


Growth in Commissions, driven by Wealth Management, Protection & Advisory

In addition to strong Wealth Management & Protection capabilities, Advisory will be a key area for value creation in the new Plan. Intesa Sanpaolo will continue to leverage on the Group’s own product factories in Asset management, Life insurance and Protection. The Bank will be a reference partner for all SME & Corporate clients, helping them to fully leverage Recovery Plan opportunities.

The main initiatives include:

  • - Dedicated service model for Exclusive clients
  • - Strengthened leadership in Private Banking
  • - Continuous focus on fully-owned product factories (Asset management and Insurance)
  • - Further growth in payments business
  • - Double-down on Advisory for all Corporate clients
  • - Growth across International Subsidiary Banks businesses 


  • ~€100bn growth in AuM
  • ~57% of Revenues from fee-based business(1)


1. Commissions and Insurance income

Significant ESG commitment, with a world-class position in Social Impact and strong focus on climate

Strengthening the Group’s current leadership in all main ESG rankings, Intesa Sanpaolo will continue to support the community, with particular attention to those categories most in need. Participating in all lending, investments and insurance Net-Zero alliances and Net-Zero on own emissions by 2030.

The main initiatives include:

  • - Unparalleled support to address social needs
  • - Strong focus on financial inclusion
  • - Continuous commitment to culture
  • - Promoting innovation
  • - Accelerating on commitment to Net-Zero
  • - Supporting clients through the ESG/climate transition


  • ~€25bn in social lending/contribution to society
  • ~€90bn in new loans to support the green transition


People are our most important asset

People represent the decisive factor in Intesa Sanpaolo’s success: the Group will continue to invest in its talents, encouraging diversity and inclusion, and creating a unique ecosystem of skills to support the evolution of the Bank. The new Plan set the target of equal presence of men and women in new senior leadership appointments.

The main initiatives include:

  • - Next way of working
  • - Innovative talent strategy
  • - Diversity & Inclusion
  • - Learning ecosystem
  • - Tech-enabled process streamlining


Over €520bn to ISP stakeholders

2022-2025, € bn
Cash dividends and buyback
>22 (1) Significant portion of Net income made available for consumption/investments
Households and businesses
MLT new lending to the real economy
328 Of which €285bn in Italy
ISP People
Personnel expenses
26.5 ~100,000 households, ~50m training hours
Purchases and investments
17 Benefiting more than 40,000 households
Public sector
Taxes (2)
15 ~75% annual real estate property taxes in Italy
Social lending
New lending to support non-profit activities,
vulnerable and young people
25 ISP is the largest lender to social sector in Italy
People in need, youth and seniors
Investments and donations
ISP is the #1 bank worldwide for Social Impact
New lending to the green economy, circular
economy and green transition
88 Strong focus on supporting Corporates/SMEs in the green transition

(1) Subject to ECB and shareholder approvals and based on the achievement of 2022-2025 Business Plan stated Net income targets. Including €1.4bn 2021 interim dividends paid in November 2021
(2) Direct and indirect

Discover the details of the Business Plan by downloading the presentation.

Download the Plan

Structural Cost reduction, enabled by technology

Intesa Sanpaolo is already a leading player in terms of operational efficiency and Cost management thanks to constant oversight and strong flexibility, making the Bank very efficient while maintaining a significant level of investment to support growth.

The next challenge will be to further strengthen this competitive advantage in Cost management and become the absolute leader in the European panorama for operational efficiency also due to the optimisation of the Group's IT architecture, insourcing of distinctive skills, and the use of external partnerships in modernising the Bank.

Tech infrastructure will be extended to the entire Group, including the international network

  First wave: 2022-2024
Second wave: 2024 and beyond
Italy Creation of a new Digital Bank Isybank for domestic mass market retail clients, working in partnership with leading Fintech: Thought Machine Tech infrastructure extension - Thought Machine - to serve other ISP individual client segments beyond mass market retail clients (e.g. Affluent)
    New customer acquisition and business expansion (e.g. electric mobility) through partnerships: Mooney - SisalPay and Banca 5 - Enel
Development of a single international core banking/digital front-end system (1) with set-up in line with the new Digital Bank Isybank Consolidation of the model at Group level, including main European International Subsidiary Banks

(1) All services provided by International Value Services (IT factory for the International Subsidiary Banks Division)

End-to-end technological modernisation, including strategic partnerships with leading Fintechs

Core banking system

  • Digital-native core banking components, extendible over time to other IT domains
  • Enabling digital products


Wealth advisory platform

  • Robo4Advisory & RoboAdvisory solutions, enabling real-time development of highly-tailored investment portfolios
  • Best-in-class risk analytics and portfolio insights to support customer engagement


Large/Mid-corporates and SMEs

  • Leading solution for transaction banking, driving an increase in fee-based income at the international level


Altre componenti infrastrutturali

  • Originate-to-Share
  • Channel/workbench for IMI C&IB and Banca dei Territori
  • Multi-cloud infrastructure (e.g. Skyrocket)


Focus ESG

The 2022-2025 Business Plan envisages for the Group strong and sustainable value creation and distribution, solid capital position and a significant ESG (Environmental, Social, Governance) commitment.

The Group aims to further strengthen its leading position in ESG with a world-class position in Social Impact and strong focus on climate.

For Intesa Sanpaolo, its People continue to be the most important asset behind the Group’s success, helping to make it possible to achieve the objectives set out in the Business Plan.

With regard to the commitments on ESG issues, the Group has outlined a series of objectives divided into the following areas:

Unparalleled support to address social needs

Total contribution of around 500 million euro, through investments and donations

  • - Supporting people in need: expansion of the food and shelter programme for people in need carrying on around 50 million interventions to distribute meals, bed places, medicines and clothes
  • - Fostering youth education and employability:
    • - Launch of employability programs for more than 3,000 young people (e.g. Giovani e lavoro and Generation4Universities) and involvement of more than 4,000 schools and universities in inclusive education programs (e.g. WeBecome)
    • - Promoting 3,000-4,000 social housing units for youth (e.g. students, young workers) in Italy
  • - Assisting senior population:
    • - Creating around 30 senior community hubs to provide, at the local level, social and leisure activities and dedicated health and social assistance services
    • - Promoting 3,000-4,000 social housing units for seniors (e.g. seniors with low income, living alone) in Italy

Strong focus on financial inclusion

25 billion euro cumulative flows of social lending in 2022-2025 

  • - Lending to third sector: lending and dedicated services for non-profit organisations to promote territorial initiatives that benefit communities and the environment
  • - Fund for Impact: direct support to individuals unable to access credit through traditional financial channels, with dedicated programs such as “MAMMA@WORK”, a highly subsidised loan to balance motherhood and work in their children’s early years of life, “Per Merito”, the first line of credit without collateral dedicated to university students, and XME StudioStation, loans to families to assist with distance learning
  • - Lending for urban regeneration: dedicated program for urban regeneration with investments in hospitals, smart mobility, broadband networks, education and service and sustainable infrastructure
  • - Lending to vulnerable and underserved individuals:
    • - Direct support to vulnerable and underserved individuals
    • - Support to families affected by natural disasters through subsidised loans
    • - Partnerships to provide micro-credit to individuals or small companies in difficulty

Continuous commitment to culture

  • - Two new museums for Gallerie d’Italia in Turin and Naples(1)  and expansion of exhibition spaces in Milan and Vicenza with an overall increase from 14,200 square metres in 2021 to 30,000 in 2025
  • - Multi-year program of original temporary exhibitions, educational labs with schools and social inclusion projects dedicated to vulnerable categories
  • - Creation of a center of excellence in the new Gallerie d’Italia in Turin to promote the value of photography
  • - “RestituzioniProgram, dedicated to restoration and valorisation of the national heritage curated by the Bank in collaboration with the Cultural Ministry
  • - Professional education programs in art and culture
  • - Partnerships with museums, public/private institutions in Italy and abroad
  • - Sponsorship of cultural activities and events

Discover "Progetto Cultura"

Promoting innovation

  • - Development of multidisciplinary applied research projects (e.g. AI, neuroscience, robotics) via collaboration with top-notch research centers, promoting technology transfer and spin-offs and creating intangible assets and intellectual property
  • - Support to high-potential startups through non-financial services (e.g. acceleration programs) and the connection/support of venture capital funds, also thanks to NEVA SGR
  • - Support to the development of innovation ecosystems with an international perspective, coordinating the network of relationships with corporates, incubators, R&D centers, universities, national and international institutions
  • - Acceleration of business transformation and support to corporates’ long-term development (e.g. scouting new technologies) promoting de-risking and competitiveness through Open Innovation programs
  • - Diffusion of innovation mindset/culture through events and new educational formats
  • - Launch of around 800 innovation projects in 2022-2025 (~+70% vs 2018-2021 period)
  • - Around €100 million investments of NEVA SGR in startups

Accelerating on commitment to Net-Zero

Strong focus on climate and environmental initiatives:

  • - Net-Zero emissions in 2050 for loan and investment portfolios and Asset management and Insurance
  • - Net-Zero aligned targets for 2030 in the following high-emitting sectors(2)  (2030 target(3)  against the 2019 baseline(4) ):
    • - Oil & Gas(5)  (Scope 1,2,3): reduction from 64 to 52-58 gCOe/MJ
    • - Power generation (Scope 1,2): reduction from 214 to 110 kgCOe/MWh
    • - Automotive (Scope 3): reduction from 162 to 95 gCOe/km
    • - Coal mining (exclusion policy): exposure reduction from 0.2 billion euro to zero by 2025
  • - Net-Zero own emissions target already in 2030 with 100% purchased renewable energy at Group level in 2030
  • - Commitment to planting 100 million trees, directly and through dedicated financing to clients
  • - Adoption of a specific policy on biodiversity


Supporting clients through the ESG/climate transition

  • - Sustainable lending for Retail clients: further boost of sustainable lending for Retail clients with a focus on the green energy transition
  • - Support to SMEs/Corporates on the sustainability journey:
    • - Strengthening of sustainable lending to SMEs/Corporates
    • - Dedicated Circular economy Lab and strategic partner of the Ellen MacArthur Foundation
    • - More than 12 ESG Labs, at least one in each Regional Governance Centre, with around 100 dedicated ESG specialists, in collaboration with specialised partners to support SMEs/Corporates in ESG transition
    • - Skills4ESG platform for client training and engagement

Support the green transition: 88 billion euro of new lending for the green economy, circular economy and green transition (76 billion euro in relation to the National Recovery and Resilience Plan(6) , 12 billion euro to individuals(7) ), of which 8 billion euro dedicated to circular economy

  • - Client assessment based on Intesa Sanpaolo proprietary ESG scoring: 
    • - Proprietary ESG scoring fully embedded in Intesa Sanpaolo’s credit risk appetite framework, as a key component for sustainable lending assessment together with considerations at a sector level (ESG/climate sectorial heatmap) and also included in the credit worthiness assessment of the entire Intesa Sanpaolo client base, in line with the expected regulatory evolution 
    • - Inclusion of ESG scoring within the credit strategies framework
  • - Enhancement of ESG proposition in Asset management:
    • - Expansion of the ESG asset management offering
    • - Increase in new ESG funds(8) as a percentage of total new funds introduced from 58% in 2021 to 70% in 2025
    • - Increase in Assets under Management (AuM) in sustainable investments(9)  from 110 billion euro in 2021 to 156 billion euro in 2025 with a percentage of total AuM from 46% in 2021 to 60% in 2025
    • - Further development of the Eurizon proprietary ESG scoring, with the extension to new asset classes
    • - Development of dedicated ESG advisory services for Fideuram
  • - Development of dedicated ESG insurance offering
    • - Development of dedicated non-life ESG offer (e.g. products for companies adopting eco-sustainable behavior, green vehicles)
    • - Enrichment of ESG/climate offer within Group Life commercial proposition

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