Intesa Sanpaolo’s first half 2025 results – Highlights
30 July 2025
In the first half of 2025, Intesa Sanpaolo delivered its best-ever six-month Net income, at €5.2 billion, with an annualized Return on Equity (ROE) of 20%, and record-high revenues, Commissions and Insurance income.
These excellent results enabled an upgrade to the 2025 full-year net income guidance to well above €9 billion, including Q4 managerial actions to strengthen future profitability.
Intesa Sanpaolo continues to offer one of the highest dividend yields in European banking and a 70% cash payout ratio; cash dividends accrued in H1 totaled around €3.7 billion. In 2025, the Bank will distribute no less than €8.2 billion—including over €3 billion in final dividends paid in May, a €2 billion buyback launched in June, and a €3.2 billion interim dividend to be paid in November. Additional capital distribution will be quantified at the end of the year.
Intesa Sanpaolo also strengthened its capital position, increasing its CET 1 ratio to 13.5%, a ~65 basis point (bps) increase in the first half.
The Group’s strong profitability enables Intesa Sanpaolo to maintain its global leadership in Social Impact, a key pillar of its long-term strategy.
Key highlights:
- Best-in-class profitability: €5.2 billion Net income, the best six months ever, with record-high revenues, Commissions and Insurance income
- Effective cost management: lowest-ever Cost/Income ratio at 38.0%, best-in-class in Europe
- Zero-NPL Bank: 1.0% Net NPL ratio, at historical lows
- Rock-solid capital position: 13.5% Fully phased-in CET1 ratio, up 65bps in H1
- Strong and sustainable value creation and distribution: €3.7 billion cash dividends accrued in H1 (~€3.2 billion to be paid in November); €2 billion share buyback launched in June; >7% dividend yield
- World-class position in Social Impact: €800 million contribution already deployed to fight poverty and reduce inequalities.
The technological transformation enabled by isytech – Intesa Sanpaolo’s cloud-based digital platform – is accelerating: IT investments reached €4.6 billion, enabling generational change and significant efficiency gains. IT specialists hired are ~2,350 and 63% of applications is already cloud-based.
Intesa Sanpaolo is a leader in Wealth Management, Protection & Advisory, with ~€1.4 trillion in customer financial assets, growing further in Q2 and fueling a strong growth in Commissions, especially in Wealth Management.
Intesa Sanpaolo also recorded its best-ever six months for Insurance income, driven by P&C and its integrated Bancassurance model, generating benefits for customers and the Group: contribution from Commissions and Insurance income to revenues is best-in-class.
While delivering the best six-months ever, Intesa Sanpaolo is fully equipped to succeed in any scenario thanks to:
- Resilient profitability, rock-solid capital position (also in adverse scenarios), low leverage and strong liquidity
- Well-diversified and resilient business model: a Wealth Management, Protection & Advisory Leader with fully-owned product factories and €1.4 trillion in Customer financial assets
- Zero-NPL Bank with net NPL ratio at 1.0% and €0.9bn as overlays
- Significant tech investments (€4.6 billion already deployed)
- High strategic flexibility in managing Costs
- Well-diversified loan portfolio and best-in-class proactive credit management
- Long-standing, motivated and cohesive management team with strong track record in delivering and exceeding commitments.
More information on the 1H25 financial results, together with the outlook and main strategic initiatives of the Intesa Sanpaolo 2022-2025 Business Plan, is available in the Group’s Investor Relations section.
