1Q23 results: highlights

The image accompanying the News on Q1 2023 Results portrays the new Intesa Sanpaolo skyscraper in Turin designed by Renzo Piano and LEED Platinum certified for sustainability

With a €2 billion Net income, Intesa Sanpaolo achieved the best first quarter since 2007 and, thanks to this record start, raised its 2023 Net income guidance to around €7 billion.

Intesa Sanpaolo ranks at the top of the banking sector in Europe and plays a uniquely important role in the Italian economy, to the benefit of all stakeholders.

  • “This year we will distribute €5.8 billion to our shareholders, including the May dividend to be paid in May, the second tranche of the buyback completed in April, and the interim dividend to be paid in November”
  • “Around 40% of the dividends accrued in the quarter will go directly to Italian households and to the charitable foundations that are our shareholder, enabling importing social initiatives in their local communities”

Thanks to its high liquidity and excellent asset quality, Intesa Sanpaolo is considered a safe haven by customers.

Intesa Sanpaolo is among the best European banks in terms of asset quality, with NPL inflows at an historical low and the lowest-ever annualized cost of risk.

The 2022-2025 Business Plan is proceeding at full speed and Isybank, Intesa Sanpaolo’s digital bank, will launch this summer.

Following are some key highlights from Intesa Sanpaolo’s Q1 results:

  • €2.0 bn Net income, the best quarter since 2007
  • Rock-solid and increased capital position with fully phased-in Common Equity ratio at 13.7%
  • Best quarter ever for Operating income, Operating margin and Gross income
  • Significant growth in Net interest income with no contribution from TLTRO
  • Stable Operating costs with lowest-ever Cost/Income ratio (41.9%), despite inflation and while investing in technology
  • Zero-NPL Bank with NPL inflows at historical low, driving lowest-ever annualised Cost of risk (17bps)
  • Strong liquidity position with a very diversified and sticky deposit base
  • With more than €1.2 trillion in Customer financial assets, we are leader in Wealth Management, Protection & Advisory

More information on 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.