Market Ratios - Historical figures

Price/book value
The indicator reflects the value attributed by the market to the Shareholders' equity of a listed company, hence indirectly to the company’s overall assets. The indicator for 2022 is reported in relation to both average figures and year-end figures.

_{Figures for the periods prior to 2007 refer to Gruppo Intesa and have not been restated to consider the merger.}

Pay-out ratio
The indicator reports the portion of net income paid out as dividends.   

_{(*) For the purpose of calculating the payout, the consolidated net income for 2020, equal to 3,277 million euro, was adjusted, excluding the items related to the acquisition of UBI Banca consisting of the effects of purchase price allocation, including negative goodwill (+2,062) and charges for integration (-1,378 million euro), as well as the impairment of goodwill of the Banca dei Territori Division (-912 million euro).}

_{(**) For 2021, 2020, 2017 and 2016, the amounts were partially assigned from reserves.  In November 2022, an allocation was distributed totalling 1,400 million euro (net of the undistributed portion for own shares held at the record date, for a total of 1.8 million euro). In November 2021, an allocation was distributed totalling 1,399 million euro (net of the undistributed portion for own shares held at the record date, for a total of 2.2 million euro). For 2013 and 2011 the amounts allocated are from reserves (822 million euro for each financial year). Dividends in 2006 and 2007 were calculated with reference to shares outstanding at the date of payment. For 2006 the figure considers the share capital increase due to the merger of Sanpaolo IMI with and into Banca Intesa with legal effects as of 1 January 2007 and the distribution of reserves of 3,195 million euro. For 2007 the figure considers the treasury shares held as at 31 December 2007 swapped in January 2008 with Carifirenze shares. With regard to the year 2019 shown in the table, you are reminded that following the revision on 31 March 2020 of the proposals to the Shareholders’ Meeting approved by the Board of Directors on 25 February 2020, the net income for 2019 – after the allocations to the Allowance for charitable, social and cultural contributions – was assigned to the extraordinary reserve, in accordance with the Recommendation of the European Central Bank of 27 March 2020 regarding dividend policies during the COVID-19 epidemic.} 

Dividend yield
This indicator measures percentage return on the share, calculated as the ratio between dividends for the year and the average annual market price in the reference year.   

_{(*) 0.0738 euro as interim dividend distributed in November 2022 and 0.0901 euro as remaining dividend distributed in May 2023.}

_{(**) 0.0721 euro as interim dividend distributed in November 2021 and 0.0789 euro as remaining amount distributed in May 2022.}