Intesa Sanpaolo Shareholders' Meeting: statements by Chairman and CEO

“On the occasion of the Shareholders' Meeting, I would like to express my sincere thanks to our shareholders for the trust they continue to place in Intesa Sanpaolo, reflecting the Bank’s capital strength, its ability to generate sustainable profitability, rigorous risk management, concrete commitment to ESG matters and its central role in supporting households, businesses, institutions and communities.

“The excellent results achieved by Intesa Sanpaolo in 2025 are the outcome of careful, forward-looking planning and the commitment of the Group's 90,000 employees. These two factors have enabled us to maintain a leading position among lending institutions, as evidenced by the substantial increase in disbursements of medium- to long-term financing to Italian businesses and long-standing relationships of trust with households and firms, further strengthened through technology.

“The Group was among the first institutions in Europe to adopt leading-edge technologies and integrate them into our business model. Innovation goes hand in hand with our people, with the dual objective of offering customers ever better services and simplifying processes.

“2025 marked a significant increase in the market capitalisation of Eurozone banks, including Italian institutions, confirming investors' confidence in the solidity and profitability of the country's banking system. Intesa Sanpaolo's market capitalisation, up by around 50%, exceeded €100 billion, placing it among the top banks in the Eurozone by market capitalisation.

“For us, economic growth, although a priority, cannot be separated from a strong focus on social and cultural dimensions. Our commitment and the milestones achieved in environmental, social and governance matters have again been recognised internationally this year: Intesa Sanpaolo is the only Italian bank included in the Dow Jones Best-in-Class Indices and in the CDP Climate A List.

“Intesa Sanpaolo's People are both a resource and a strategic priority. The Group is at the forefront in terms of employee wellbeing and work-life balance initiatives, with flexible working, a four-day work week and, more recently, the introduction of new measures for young families. It is recognised globally as one of the most inclusive workplaces, listed in the FTSE Diversity & Inclusion Index - Top 100. In 2026, it also obtained Top Employer certification for Italy and Europe.” 

“2025 ended with Intesa Sanpaolo's best-ever results.

“We achieved net income of €9.3 billion, with one of the highest levels of profitability in the European banking sector, at 18% ROE and 22% ROTE. Growth in commissions and the insurance business reached record levels, confirming the strength of our business model.

“These results reflect our high operating efficiency. The cost/income ratio was 42% at the end of 2025, among the best in Europe. Asset quality is at the highest levels, with bad loans virtually at zero. Our capital position remains very strong, with a CET1 ratio rising to 13.9%.

“My first thought is for our People, whose commitment and professional calibre are the foundation of these results. They have my sincere thanks.

“I wish to thank our shareholders for the confidence they have shown. Their support enables us to operate with a long-term vision.

“Value creation and distribution for Shareholders remained high and sustainable, with €6.5 billion in cash dividends and a high dividend yield. This is complemented by share buybacks totalling €4.3 billion — €2 billion executed in 2025 and €2.3 billion planned in 2026 — confirming our strong capacity to generate capital.

“The profitability achieved was underpinned by structural factors, not temporary ones. Our business model, highly diversified and focused on fee income, supported by significant investments in technology and the continuous evolution of our digital platform — with isytech at the heart of this transformation — allows us to maintain a leadership position and rank as one of the most resilient banks in Europe. This is the strength of our model.

“These results put Intesa Sanpaolo in a position of strength for the new 2026–2029 Business Plan, a Plan based on technology, commissions and high asset quality, levers that are already fully operational and present no execution risk.

“We confirm our ability to achieve net income for 2026 of around €10 billion.

“Even in a complex international environment, our business model continues to generate solid and sustainable results.

“Our growth will continue to be driven by internal levers, synergies and organic development, with a rigorous and selective approach to capital allocation.

“We will continue to operate with discipline in cost management, close attention to credit quality and a strong focus on fee growth, leveraging our technology platform and our Wealth Management, Protection and Advisory model, including a significant contribution from our International Banks Division, supporting our growing international presence.

“The new Plan also foresees net income in 2029 of more than €11.5 billion and a cumulative distribution to shareholders for the 2025–2029 period of around €50 billion, confirming our ability to generate value in a sustainable way.

“Our commitment to Social Impact remains central: in the new Plan we intend to allocate around €1 billion to initiatives to fight poverty and reduce inequalities.

“Intesa Sanpaolo will continue to fulfil its role towards all stakeholders responsibly, contributing to the economic and social growth of the communities in which it operates.

“We are a Bank with sustainable profitability, one of the best risk profiles in the sector and a business model that is unique for its diversification and efficiency. These elements position Intesa Sanpaolo as one of the most solid, profitable and resilient banks in Europe.”