9M21 results: highlights

With a nine-month net income of €4 billion, Intesa Sanpaolo has already achieved its full-year 2021 objective

With a nine-month net income of €4 billion, Intesa Sanpaolo has already achieved its full-year 2021 profit target.

The nine-month financial results confirm the strength of the Intesa Sanpaolo’s Wealth Management and Protection Company business model, and enable the Bank to continue to make a positive and concrete impact on the real economy and broader society through actions including:

  • over €410 billion in medium- and long-term lending to support the National Recovery and Resilience Plan
  • €150 million from the Group’s Fund for Impact for initiatives aimed at reducing socio-economic distress caused by the pandemic
  • €76 billion in new funding for the green economy, a strategic priority for the future

The cash dividend payout ratio for 2021 was confirmed at 70% (as foreseen by the 2018-2021 Business Plan) and on 24 November the Bank will distribute an interim dividend of €1.4 billion.

Since 2014, Intesa Sanpaolo has distributed over €18 billion in cash dividends.

Despite an exceptionally complex macro scenario, Intesa Sanpaolo has met and exceed its objectives thanks to the high professional quality of its people, on whose contribution the Bank is also counting as it prepares the new 2022-25 Business Plan to be presented in February 2022.

Following are highlights of the results achieved in the first nine months of the year.

  • €4bn Net income, the best nine months since 2008
  • Highest-ever 9M and Q3 Operating income
  • Best-ever 9M and Q3 for Commissions
  • ~€55bn growth in Customer financial assets in 9M to fuel Wealth Management engine
  • €17.3bn Gross NPL stock reduction on a yearly basis, coupled with lowest-ever 9M NPL inflow
  • Lowest NPL stock since 2007 and lowest-ever NPL ratios
  • Common Equity ratio at 15.1% (13.8% Fully phased-in), well above regulatory requirements
  • High operating efficiency with Cost/Income ratio at 50.1%
  • A Wealth Management and Protection company with ~€1.25 trillion in Customer financial assets, with Commissions and Insurance income representing 52.2% of Operating income