Intesa Sanpaolo’s first half 2025 results: statement by CEO Carlo Messina
30 July 2025
“Intesa Sanpaolo continues to strengthen its unique position among Europe’s leading banks — delivering a return on equity (ROE) of 20% and one of the highest shareholder returns in the sector, while advancing a wide-reaching programme to reduce inequality”, said Carlo Messina, CEO of Intesa Sanpaolo, as the banking group published its first-half 2025 earnings.
Commenting on the €5.2 billion net income delivered in 1H25 – “our best half-year result ever”, with revenues, fees and commissions, and insurance income reaching record levels — Messina said that he expects 2025 net income to be “well above €9 billion, reflecting the Bank’s strong organic growth potential”.
Intesa Sanpaolo offers “one of the highest levels of shareholder remuneration among European banks”, the CEO recalled, explaining that in 2025 Intesa Sanpaolo “will return at least €8.2 billion to shareholders”.
“The strength of our results, the sustainability of our growth, our capital solidity and low risk profile” enable Intesa Sanpaolo “to play a distinctive role in supporting the real and social economy”, Messina underlined. In the first half of 2025, €29.2 billion were disbursed to households and businesses in Italy — up 44% — and €41.7 billion across the Group.
“Our customers are at the heart of our strategies and growth”, Messina said, adding that “Their trust in the Bank’s solidity — and in the relationship with our credit and advisory professionals — is a key driver of our performance”.
Messina also expressed his appreciation for the commitment of the Group’s People, whose quality “is essential to generating strong, sustainable results”.
“We are particularly pleased with the results achieved in the first half of 2025. Intesa Sanpaolo continues to strengthen its unique position among Europe’s leading banks — delivering a return on equity (ROE) of 20% and one of the highest shareholder returns in the sector, while advancing a wide-reaching programme to reduce inequality and support those most in need. A more inclusive society is also a stronger economy.
“We closed the first half with a net income of €5.2 billion — our best half-year result ever. Revenues, fees and commissions, and insurance income all reached record levels.
“For the full year, we expect net income well above €9 billion, reflecting the Bank’s strong organic growth potential.
“With one of the highest levels of shareholder remuneration among European banks, we will return at least €8.2 billion to shareholders in 2025 — including the final dividend in May, the buyback launched in June, and the expected interim dividend in November. The amount of any additional capital distributions will be quantified at year-end.
“Our Bank operates a business model that is unique in Europe — based on leadership in serving households and businesses, a best-in-class Wealth Management, Protection & Advisory offering, efficient international operations, and advanced digital services. This is supported by our Zero NPL status and a globally recognized ESG profile.
“The strength of our results, the sustainability of our growth, our capital solidity and low risk profile enable us to play a distinctive role in supporting the real and social economy.
“In the first half of 2025, we disbursed €29.2 billion to households and businesses in Italy — up 44% — and €41.7 billion across the Group.
“We allocated €3.2 billion to our People. Of the €3.7 billion in cash dividends accrued during the half-year, 35% is destined for Italian households and shareholder Foundations. Taxes generated during the period amounted to €3.2 billion.
“We reaffirm our commitment to social cohesion with a €1.5 billion programme to be delivered by 2027, supported by 1,000 of our People. To date, €800 million has already been deployed.
“Our customers are at the heart of our strategies and growth outlook. Their trust in the Bank’s solidity — and in the relationship with our credit and advisory professionals — is a key driver of our performance.
“In a context of market volatility and shifting interest rates, we are meeting challenges from a position of strength thanks to a resilient, efficient, and well-diversified business model. Assets entrusted by households and businesses reached €1.4 trillion, an increase of €37 billion compared to the first half of 2024.
“We rank first in the Eurozone for the contribution of fees and insurance to total revenues.
“Strict cost discipline allowed us to reach record levels of operating efficiency, with a cost/income ratio of 38.0%. Limited inflows of non-performing loans brought the annualised cost of risk down to 24 basis points.
“Capital generation remains solid, with a CET1 ratio of 13.5%. During the half-year, we increased the CET1 ratio by around 65 basis points, confirming the Bank’s ability to generate capital consistently — a key enabler of significant shareholder distributions.
“Technology innovation is a cornerstone of our success. We have already invested €4.6 billion in cutting-edge technology and hired approximately 2,350 IT specialists, positioning the Bank among Europe’s digital leaders.
“Isybank — our digital bank launched just two years ago — has already reached 1 million customers, a testament to the success of our digital strategy.
“We are deeply committed to the environmental transition. From 2021 to the first half of 2025, we provided €78.6 billion to support the Green Economy — including €14 billion since 2022 dedicated to the circular economy. Today, 93% of our electricity comes from renewable sources.
“The quality of our People is essential to generating strong, sustainable results. I am proud of what we have achieved and sincerely thank all our People for their extraordinary contribution.
“Our well-diversified business model, solid capital position, and strong earnings capacity are the pillars of Intesa Sanpaolo’s success. We are confident that the potential already present within the Group will continue to position our Bank as a European leader in the years ahead.”
Milan, 30 July 2025
