PRESS RELEASE

INTESA SANPAOLO: RESULTS AND OUTLOOK OF THE INTERNATIONAL SUBSIDIARY BANKS DIVISION

• A solid and profitable business model made up of 11 commercial banks across Central-Eastern Europe and Egypt, and a wealth management company in China.
• Growing results in a complex economic and geopolitical environment.
• Expansion of Investment Banking and Global Markets activities and of the commercial offer dedicated to supporting ESG policies.
• Significant initiatives to support the international supply chains of Italian SMEs, growth in Wealth Management & Protection and investments in digital.
• Programs in support of society and culture, with a focus on financial inclusion and actions to achieve the Net-Zero objectives.
• In the last three years, the Division has recorded an average growth in total assets of 7% per year; in 2022 it contributed 14% to the Group's Net Income.
• An inclusive and multi-cultural Division, with women representing 43% of managerial positions and 63% overall. The over 300 people in the Head Office come from 21 countries and speak 19 languages.
• Marco Elio Rottigni: “The Euro-Mediterranean region will play an increasingly central role for global maritime routes, and the countries in which we operate through our commercial banks are those with the highest expected economic growth in the area. We will contribute to this growth while we support the internationalization of Italian companies”.

Milan, 4 April 2023 – Intesa Sanpaolo’s International Subsidiary Banks Division (ISBD), headed by Marco Elio Rottigni, today presented the results achieved in 2022 and the development prospects envisaged in the 2022-2025 Business Plan.

Intesa Sanpaolo, the market leader in Italy and a top bank in Europe, has a widespread international presence across three continents.

The ISBD Division carries out business through 11 commercial banks operating in 12 countries (Slovakia, Czech Republic, Hungary, Slovenia, Croatia, Serbia, Bosnia-Herzegovina, Albania, Romania, Moldavia, Ukraine and Egypt) as well as through the wealth management company Yi Tsai in China, where the Group also has a minority stake in Bank of Qingdao and in Penghua Asset Management.

The banks of the Division, which play a primary role in their respective markets, have a network of over 900 branches, serving approximately 7 million clients.

In the last three years, the Division has recorded an average growth in total assets of 7% per year; in 2022, it contributed 14% to the Group’s Net Income.

Various initiatives contributed to these results, characterized by the expansion of Investment Banking and Global Markets activities, the strong positioning of the Group as a reference partner for Italian SMEs, and the development of Wealth Management & Protection activities.

Within digital banking, the Division is implementing a redesign of its digital offering and strengthening the omni-channel distribution model to accelerate the digitization of customers. This path is supported by increasing IT convergence towards a single platform at the Group level, which extends to the main banks of the Division.

Support for the real economy and households went hand in hand with social and cultural initiatives as well as working towards Net-Zero objectives. These included extraordinary interventions to mitigate the impact of the pandemic, to help the populations hit by the earthquake in Croatia and Albania, and to host Ukrainian refugees.

Throughout the Group’s 2022-2025 Business Plan, the ISBD Division aims to further expand its Investment Banking and Global Markets activities by leveraging the distinctive capabilities of the IMI Corporate & Investment Banking Division, launch International Corporate Advisory for SMEs in synergy with the Banca dei Territori Division, and develop a dedicated Private Client service model in collaboration with Intesa Sanpaolo Private Banking and Eurizon.

“We are very satisfied with the results obtained in 2022 and more generally over the last three years: we achieved them while operating in a complex global economic and geopolitical environment, which has led to the redefinition of international production and logistics chains” – said Marco Elio Rottigni, Chief of Intesa Sanpaolo’s International Subsidiary Banks Division. “The Euro-Mediterranean region will play an increasingly central role for global maritime routes and the countries in which we operate through our commercial banks are those with the highest expected economic growth in the area. We will contribute to this growth while we support the internationalization of Italian companies, focusing on our Group's distinctive skills, inter-divisional synergies and recovery and resilience programs. In particular, we will focus our funding on the sustainable development of agribusiness supply chains – a strategic sector in the countries served – of manufacturing, trade and transport. A special recognition goes to all our People, who have contributed to the achievement of these important results and who are the real added value of our Division, and more generally of our entire Group”.

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Media Relations
Intesa Sanpaolo
international.media@intesasanpaolo.com