Greater social cohesion to reduce inequality

social cohesion reduce inequality

Intesa Sanpaolo works each and every day to support the sustainable and longterm growth of Italy’s economy, in the belief that a strong and cohesive society offers the foundation necessary for the whole country to develop.

Improving the socio-economic standing of citizens in an essential part of this goal.

The number of people living in absolute poverty has grown signifi cantly in recent years. In Italy, this currently represents 1.8 million families and a total of 5 million individuals, or 7% of the population. Over the past 10 years, the prevalence of absolute poverty has doubled in terms of the number of households affected (from 3.5% to 6.9%) and nearly tripled at the individual level (from 3 out of every 100 residents in 2007 to 8.4 out of 100 in 2017).

Among children and young people (0 to 17 years), it increased fourfold between 2007 and 2017: minors in absolute poverty represent 12.6% of the population, with an incidence ranging from 10.1% in the Centre to 15.7% in the South.

The scale of this problem drives Intesa Sanpaolo’s commitment to promoting greater social cohesion and reducing inequalities. The Bank’s strong economic performance and the solidity of its balance sheet enable a structured program of activities to support those in need and who struggle to reach the minimum standards of wellbeing and dignity that should be within everyone’s reach.

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