Full year 2021 results – Highlights

Intesa Sanpaolo’s excellent full-year 2021 financial results reflect the Group’s unique and resilient business model as a European leader in Wealth Management & Protection, strongly focused on commissions, highly efficient and low risk.

Even under stress from the pandemic and while successfully merging UBI Banca, Intesa Sanpaolo continued to achieve excellent results, further strengthening its balance sheet and rewarding shareholders.

Net income has been growing for eight consecutive years, while paying €19 billion in cash dividends for the period 2014-2021. In 2022, the Bank will achieve a Net Income above €5 billion, with a dividend payout ratio of 70%.

Some highlights from the 2021 results:

• Best year since 2007 for Net Income at €4.2 billion (+19% vs FY20)
• €2.9 billion cash dividends paid for 2021, equal to a 70% payout ratio
• Best-ever year for Operating income and Operating margin
• Best-ever year for Commissions (+9.3% vs FY20) with €90 billion growth in Customer financial assets to fuel the Wealth Management business in the future
• Decrease in Operating costs, with Cost/Income down to 52.5%.

The Bank maintained a best-in-class capital position, with a Common Equity ratio at 15.2%. In 2021, gross NPLs decreased by €5.7 billion on a yearly basis. The lowest-ever gross NPL inflows were coupled with a strong increase in NPL coverage, as well as the lowest-ever gross NPL stock and ratios, among the best in Europe.

These excellent full-year results have helped pave the way for the new 2022-2025 Business Plan.