Intesa Sanpaolo’s 2025 full-year earnings: record Net income of €9.3 billion

2 February 2026

Intesa Sanpaolo delivered Net income of €9.3 billion in 2025, marking the best year in its history, with record-high Commissions and Insurance income.

The Group also achieved a best-in-class Cost/Income ratio, the lowest-ever stock and inflows of non-performing loans — with bad loans reset to near zero — strong capital growth, and significant value creation for stakeholders.

Intesa Sanpaolo’s 2025 results in detail:

• Best-in-class profitability:
  • Net income, of €9.3 billion with record-high Commissions (+6% vs FY24) and Insurance income (+5% vs FY24)
  • Return on equity (ROE) of 18% and return on tangible equity (ROTE) of 22%
  • More than €1 billion in Pre-tax profit allocated to succeed in the coming years
• Effective cost management: Cost/Income ratio of 42.2%, the lowest-ever and best-in-class in Europe
• Zero-NPL Bank: Net non-performing loan ratio of 0.8%, at an historical low, with Bad loans reset to near zero
• Rock-solid capital position: CET1 ratio above 13.9%, up around 110 basis points in 2025; CET1 ratio at 14.1% when excluding around 20 basis-point impact from Italy Budget Law
• Strong and sustainable value creation and distribution:
  • Cash dividends of €6.5 billion, of which €3.2 billion paid in November 2025
  • €2.3 billion share buyback to be launched in July 2026, on top of €2 billion share buyback completed in October 2025
  • Dividend yield of 7.5%
• World-class position in Social Impact: a €1.0 billion contribution already deployed over the 2023-2025 period to fight poverty and reduce inequalities
• Significant growth in Customer financial assets: ~€1.5 trillion at year end 2025 (+€75 billion vs FY24, of which +€46 billion in 4Q25)

Intesa Sanpaolo over-delivered on all the targets set out in the 2022-2025 Business Plan, while investing more than originally planned. Shareholder distribution was around 50% higher than the Business Plan target. The level of profitability delivered is driven by structural factors, not by temporary effects.

The results achieved position Intesa Sanpaolo to deliver ~€10 billion in Net income in 2026.

Intesa Sanpaolo’s resilient profitability, well-diversified business model, low Cost/Income ratio, cutting-edge technology, and best-in-class risk profile place the Bank in a unique position to continue to succeed in the coming years in any scenario.

The Group’s unique Commissions-driven and highly efficient business model, supported by strong technology investments, positions Intesa Sanpaolo as one of the best equipped and most resilient banks in Europe.

Full details on Intesa Sanpaolo’s 2025 financial results are available in the Group’s Investor Relations section.