Carlo Messina: commitment to increase the pay of the bank's people

During the 22nd National Congress of Fabi (Federazione Autonoma Bancari Italiani - the Autonomous Federation of Italian Banking Personnel), Carlo Messina, Intesa Sanpaolo's CEO, spoke at the round table "The national contract and the social role of banks".

During the round table dedicated to the new national contract, CEO Carlo Messina emphasised in particular that Intesa Sanpaolo is "the largest private employer in Italy" and thus stated that:

• "Our priority is to protect the 70,000 people who work at our bank in order to obtain a contract that can be considered the best that can be signed"
• "At a time of significantly increasing profitability, it is not at all acceptable not to give substantial pay rises to the bank's workers"
• "One can imagine an effort between banks and trade unions to distribute profits to bank employees as a form of remuneration"

Elements such as digitalisation, which ensure the bank can face competition and be sustainable in results in the future, must be moved forward, because in Messina's view, "savings jobs" is not enough: "the dignity of the work" is important.

With reference to the country's economic situation, Messina believes that Italy is in a unique position in Europe and is proceeding "on a reasonable, sustainable growth path", while emphasising the need for "faster growth":

• "GDP dynamics are better than those of other major countries in Europe" thanks to strengths such as the business model of Italian companies and household savings
• "Growth in assets under administration more than offsets the reduction in bank deposits"
• "If a 2% cent growth rate is not achieved by 2025, there could be 'complexities' due to inequalities in the country"

The Fabi Congress takes place in Rome from 12 to 16 June 2023. It addresses some of the most important issues for the future of banks and their employees, from the renewal of the national contract to technological evolution, from digital to the relationship between politics and finance, from ECB decisions to the social role of the Italian banking sector.

Photo credits: courtesy Fabi