Full year 2022 results – Highlights

Full year 2022 results are the best-ever in Intesa Sanpaolo's history, marked by a fourth quarter that was the best quarter ever for revenues - up 13% over the previous year - with a strong acceleration of net interest income.

Intesa Sanpaolo exceeded its Business Plan commitments for 2022 by achieving Net Income of €5.5 billion (excluding Russia de-risking) despite the complex macro-economic environment.

Rewarding shareholders remains a priority for Intesa Sanpaolo, which will distribute €3 billion in cash dividends for 2022, maintaining its commitment to a 70% payout ratio. The bank will also launch the second tranche of share buyback for €1.7 billion, bringing the total distribution of additional capital to €3.4 billion.

A Wealth Management, Protection & Advisory leader, Intesa Sanpaolo has more than €1.2 trillion in customer financial assets to fuel its wealth management engine and drive net interest income growth; during the fourth quarter, customer financial assets increased by €26 billion.

Benefits for all stakeholders from the solid operating performance achieved in 2022:

• Shareholders: €3 billion in cash dividends
• Employees: €77 million one-off contribution to Intesa Sanpaolo people to mitigate the impact from inflation
• Public sector: €3.2 billion in taxes
• Households and businesses: €81.4 billion in medium/long-term new lending, of which €58.4 billion in Italy.

All the industrial initiatives in the Business Plan have been launched and many of them - about 70% - ahead of schedule.

Including the launch in 2023 of Isybank, Intesa Sanpaolo's digital bank designed to serve about 4 million existing clients who already choose not to use branches.

Intesa Sanpaolo is a Zero-Russia exposure bank, with a nearly 70% reduction in exposure (-€2.5 billion) in the second half of the year alone, falling to below 0.3% of the Group's loans to customers.

We are among the best banks in Europe for NPL stock and ratio, also thanks to a €4.6 billion reduction in gross NPLs in 2022.

Following are the highlights of the results delivered in 2022:

• Net income of €4.4 billion; €5.5 billion when excluding Russia de-risking
• Capital position significantly strengthened in Q4 (+110bps vs Q3) with fully phased-in Common Equity ratio up to 13.5%, which will remain close to 13% at the end of 2023, taking into account regulatory headwinds
• Achieved the best-ever year for operating income, operating margin, and gross income
• Net interest income increasing momentum, with a 20% year-on-year increase and a strong acceleration in the fourth quarter (+28.4% vs Q3)
• Among the best banks in Europe for NPL stock and ratio; lowest-ever NPL inflow in 2022
• Low structural cost of risk thanks to the Zero-NPL Bank status

For further information on the financial data, outlook and main industrial initiatives of Intesa Sanpaolo's 2022-2025 Business Plan, consult the Investor Relations section.