Intesa Sanpaolo Research Department

Our Department is one of Italy's leading economic and financial think-tanks.

Our aim is issuing:

  • Independent and impartial analyses, and contributing to the economic debate on the country’s main issues and on the most relevant international economic themes for the Group;
  • Research papers on the trend of Italian and global economies, the capital market, local economies, industrial sectors and districts, the banking system, and public services and local government;
  • Investment research on the issuers of financial instruments traded on the Italian and foreign regulated markets, on unlisted companies and on IPO target companies;
  • Research and recommendations on the main stock and bond markets, with particular focus on Italian and Euro area assets, the currency markets and commodity prices. 


Research Department

Advanced Economies

Analyses and forecasts on advanced economies. Reports on global economic trends, with a focus on Italy and the euro area. Research is available in Italian and English.

Commodities , FX and Rates

Analyses and forecasts, intended for professionals, on interest rates, the government bond market, currency markets and commodities. Reports are available in Italian and English.


Economic and structural analyses of the Italian banking sector and European comparisons, with a focus on trends in the credit market, funding, asset management, bank rates, and the housing market.

Industry & Local Economies

Forward-looking scenarios, conjunctural and structural analyses of the Italian business sectors, industrial districts and local economies.

Insights into Local Governments and Local Public Services.

Equity & Credit

Research and recommendations, intended exclusively for institutional clients, regarding major large- and small/mid-cap listed issuers and main Italian issuers of debt securities, large and medium-sized.

Analyses related to companies undergoing IPOs in domestic equity markets and those for whom IMI CIB Division holds a Specialist, Sponsor and/or Corporate Broking mandates.

Recommendations from a technical perspective on the key Italian and European listed stocks, as well as futures of the main asset classes (equity, bonds, commodities).

Emerging Countries

Periodic reports on current and expected trends in the real economy, financial markets and banking aggregates in emerging markets and countries where Intesa Sanpaolo operates.

Ad-hoc research on the dynamics of international trade and foreign direct investment; insights into key banking and financial market variables.

Private Investors

Reports only in Italian on the performance of the global economy, the real estate market and financial markets, intended for retail customers, private investors and SMEs.