9M22 results: highlights

The image accompanying the News on the 3Q22 results portrays the new Intesa Sanpaolo skyscraper in Turin designed by Renzo Piano and LEED Platinum certified for sustainability

Intesa Sanpaolo delivered high-quality earnings in the first nine months of 2022 driven by a strong acceleration of Net interest income, supported by its standing as a Zero-NPL Bank and the strong third-quarter reduction of exposure to Russia that is now approaching zero.

Following are some key highlights of Intesa Sanpaolo’s 9M22 results:

  • €4.4 billion Net income, when excluding Russia de-risking; €3.3 billion reported Net income
  • ~65% reduction of Russia exposure in Q3 (-€2.3 billion), down to just 0.3% of Group loans
  • Highest-ever 9M Operating income and Operating margin
  • Significant growth in Net interest income with strong acceleration in Q3 (+14.1% vs Q2)
  • Best-ever Insurance income
  • Strong decrease in Operating costs with Cost/Income ratio down to 49.4% while investing in technology
  • Among the lowest NPL stock and ratios in Europe
  • Very low underlying cost of risk, driven by Zero-NPL Bank status

In the first nine months, Intesa Sanpaolo worked along two dimensions: first, delivering high-quality results in the short term and, second, building a strong bank for the next ten years, by continuing to execute the 2022-2025 Business Plan.

More information on the 3Q22 financial results together with the outlook and main industrial initiatives of the Intesa Sanpaolo 2022-2025 Business Plan are available in the Group’s Investor Relations section.