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Financial inclusion of vulnerable people

Support of people in vulnerable conditions is offered through projects and initiatives aimed at the fair allocation of resources by identifying actors within the territory with whom agreements and synergies can be developed that will make access to credit easier for vulnerable individuals or those who would otherwise have no access to banking.

High social impact initiatives

In 2021, we have provided new loans for activities with a high social impact of around 20.6 billion euro (26.7% of total loans granted by the Group in 2021), contributing to create entrepreneurial and employment opportunities as well as helping people in difficulty through different forms: microcredit; anti-wear loans; products and services for Third sector associations and entities; products dedicated to the most vulnerable social categories to foster their financial inclusion; funding to support populations affected by natural disaster.

Families

To meet the needs and difficulties of families and the most vulnerable social groups, Intesa Sanpaolo guarantees innovative financial solutions, by also adhering to different types of support initiatives at the banking system level, such as the set-up of guarantee funds and the option of a temporary suspension of the payment of mortgage instalments for households affected by job losses or pay cuts.

Favourable conditions mortgages

Faced with the health emergency for Covid-19, the Bank has provided for the suspension of the payment of the loans also following the ABI agreements to which it adhered.

We offers mortgages to priority individuals at favourable conditions ranging from exemption/cancellation of the substitute tax, to the possibility of accessing high Loan To Value (LTV) also with the guarantee of the State and the benefit of very competitive rates. In 2021, 4,488 mortgages of a value of almost 500 million euro were issued.

The Group also signed up to the Agreement for women victims of violence which ABI and the main trade unions also signed. For women included in certified security programmes, who are in economic difficulty, the agreement provides for the suspension of repayment of the principal in mortgages and personal loans for a period of 18 months. When signing up to the Agreement, the Bank also provided for the suspension of the entire instalment to offer greater support. In November 2021, the protocol was extended for a further two years.

Support for employees

Intesa Sanpaolo has for some years operated the “Anticipazione Sociale” project, designed for redundant workers who receive their INPS benefits 7-8 months after applying. “Anticipazione Sociale” offers the opportunity to open credit facilities with favourable terms, until their redundancy benefits arrive from INPS. 

Through agreements signed with the Piedmont, Emilia Romagna, Tuscany and Veneto Regions, the worker does not bear any charges as these are covered by the project partners.  
Since 1 June 2021, the Group has provided the free extension of Intesa Sanpaolo health insurance policy coverage to include COVID-19.

Usury prevention

Agreements with Foundations and Associations (e.g. Adiconsum, Exodus 94, Fondazione San Nicola Medici, etc.) foster credit inclusion for disadvantaged individuals and companies. The guarantees financed with the Usury Prevention Fund allow loans to be raised from the banking system, thus preventing the financial exclusion of weak individuals who might otherwise turn to illegal credit channels.

Young people

It is essential to invest in young people, giving them a sign of confidence and involvement, to promote new ways of communicating and interacting with the future customers.
For this reason we have developed a specific product range:

  • “Mutuo Giovani” dedicated to young people under 36, with an offer that facilitates this customer segment in the purchase of their first home, accepting requests up to 100% of the property value. Following the Legislative Decree no. 73 of 25 May 2021, the offer has been enriched with the possibility of accessing the first home guarantee fund which covers up to 80% of the loan capital for loans with LTV> 80%. Only subjects identified as priority and in possession of an ISEE not exceeding 40 thousand euros per year access this guarantee which provides for subsidized rates, the elimination of preliminary investigation costs and installment collection costs. For under 36 underwriters of Mutuo Giovani, who do not fall within the exemptions provided for by the legislation, the Bank has also activated an initiative to reset the substitute tax. This product has allowed the Group to position itself as the main lender of this target customer.
  • “XME Prestito Giovani” can also be activated via the App or via the Internet and provides for favourable terms and allows, at no additional cost, to defer payment of instalments or change the amount as needed and can also be applied for in the case of a fixed-term or atypical employment contract or if the person is a freelancer.
  • "XME Conto Under 35” and “XME Conto UP!” (dedicated to minors) offer current account fees, a debit card, bank transfers and ATM withdrawals free of charge and with tax paid by the Bank. The main news introduced at the end of 2021 is the complete free of charge of the monthly current account and XME card plus fee for online openings of the XME Conto together with the card. For holders of XME Conto Under35 and XME Conto UP! it is also possible to purchase a free nominative Flash Card with zero online top-up costs.
  • “SMART SAVE”, the first of the investment services designed from a digital perspective that allows customers to subscribe to funds starting from 5 euros and to manage all transactions directly via the App; 
  • The pre-paid “Flash Up Studio” card for students attending the partner Universities. It can be requested free of charge directly via the App: it can be used to make payments, receive scholarships, any emoluments and, if applicable, allows the holder to use university services and access University premises.
  • XME dindi. Addressed to the little ones, the technological piggy bank that in addition to the traditional functions of collecting coins and banknotes, if connected to XME Piggy bank, allows you to set provisions, either impulse or automatic, thanks to the rounding off of payment transactions made with cards.
Innovation and financial

In the field of innovation combined with financial education was realized within the App Intesa Sanpaolo Mobile, the Smaller version of the digital wallet XME Wallet with the aim of providing the minors holders of XME Account UP! With more than eight years and a certified mobile phone, the first "digital" banking tool that allows you to:

  • manage by App (within the limits of operation allowed to this target) bank reports
  • making financial education, accompanying the child in the path of accountability, independence and conscious management of their relationships and financial resources.

Not only services and solution dedicated to young people, but also a new communication language at Branches and online, with a dedicated section of the Bank’s website, a Facebook page and a Twitter account , which allow young customers to request information and insights as well as assistance on products and initiatives dedicated.

The first point of attention is the aspect of costs, which Intesa Sanpaolo has contained to a minimum: on XME Account, flexible current account, subsidized conditions for young people up to 35 years, low management costs for financing products, savings, pension and protection and XME UP account!, account for minors completely free. In addition, on both types of accounts, up to the competition of the maximum age of product membership (18 and 35), stamp duty is paid by the Bank.

Savings plan

In terms of savings, the possibility to invest small amounts of money over time, even without a significant initial outlay, offers the opportunity to start a savings plan, laying the foundation to build a capital in the medium / long term.

In terms of the pension offer, the open pension fund, "Il Mio Domani" and the individual pension plan, "Il Mio Futuro" - provide for members under 25 a discount on the annual administrative management fee.

Training support

The Bank's ongoing commitment to fostering the educational development of young people, including post-graduate students, finds expression in "Per Merito", a product that is aimed, by allowing access to credit, to particularly deserving students from every university and faculty, including who wish to enroll in foreign universities or masters, in any economic and social condition, as the loan does not require any personal or family guarantee.

In 2021, the main novelties included the introduction of some innovations aimed at transferring a significant part of transactions online and the activation of new partnerships with numerous training institutions for the inclusion of higher education courses within the scope of the loans.

As part of the Fund for Impact, alongside this product in 2020 we launched XME StudioStation, a loan for families to support distance learning. In 2021, € 0.5 million was disbursed.

Also in the field of training, in 2021, within the Fund For Impact, a loan dedicated to parents with children of school age was made available, aimed at supporting training and education costs such as language courses or expenses. for psychomotor and speech therapy. Families with ISEE not exceeding 40,000 euros can access it, who are granted a credit line of 2,000 or 3,000 euros per year for a maximum period of 5 years. At the end it is possible to return the sums used in 15 years.
In addition to the offer, not in the context of the Fund for Impact, there is also the StudioSì initiative, which supports students engaged in tertiary education courses consistent with the National Smart Specialisation Strategy (NSSS).

Senior

The products and services dedicated to this type of customer take into consideration specific needs of simplicity and enhancement of the relationship with the Bank which has been consolidated over time. Among the dedicated products: 

  • "Pension Card", and "Pension Book for You". The range dedicated to Senior customers is completed by the Basic Account created in compliance with regulations introduced in 2012 with the aim of financial inclusion. The account is dedicated to customers with limited banking needs and provides for low management costs, in particular for socially disadvantaged customers and, given the purposes of this product, Intesa Sanpaolo has made the Basic Account even more convenient, guaranteeing a greater number of transactions free of charge with respect to the limits established by the legislation.
  • In terms of financing, the Obiettivo Pensione allows you to meet the contribution requirements for obtaining a pension. It is aimed at non-employed senior customers who have no less than 6 months and no more than 3 years to go to the INPS old-age or early retirement pension. Thanks to Obiettivo Pensione it is possible to pay the social security contributions necessary to reach retirement. The debt can be repaid with the Prestitalia Fifth Pension Transfer, at a fixed and dedicated rate, with a maximum duration of 10 years or alternatively / in addition, a personal loan with a maximum duration of 10 years. 
  • PerTe Lifetime Loan: medium-long term loan regulated by law 44/2015, dedicated to customers over 60 owners of a property for residential use. It aims to meet different needs of the elderly concerned, such as for example. that of supplementing one's income, safeguarding and improving the standard of living, facing periodic healthcare expenses or supporting one's family members. Against a first degree mortgage, it allows you to obtain liquidity by converting part of the value of the property as collateral into money. It also represents an advantageous alternative to bare ownership.

Families and operators affected by natural disaster

We have confirmed our concrete and tangible commitment alongside families and economic operators affected by environmental disasters or other disasters that have affected the Italian territory, such as the extraordinary atmospheric events that in 2021 affected the provinces of Ragusa and Catania, Northern Italy (Como and the Veneto Region), the Oltrepò Pavese, and the fires that hit Sicily and Sardinia, through dedicated plafond and new subsidized loans for the restoration of damaged structures (houses, shops, offices, craft workshops, companies), moratoriums on current loans, protection interventions in the area of ​​protection and preferential procedures, simplified and fast. 

Immigrants

Intesa Sanpaolo has developed an offer of various services that best meet the needs expressed by immigrant customers (at the end of 2019, about 1.2 million customers) who want to transfer their savings in the countries of origin.

The services offered are essentially structured as follows

  • Express to Family allows the transfer of money to the Intesa Sanpaolo Group Banks in Albania, Egypt, Serbia and Ukraine
  • GetMoney to Family allows you to send money to the main countries of origin of migrants (Bangladesh, Brazil, Bulgaria, Ecuador, India, Morocco, Moldova, Peru, Thailand, Tunisia, Ukraine, Vietnam) thanks to cooperation agreements with banks on site
  • Money Transfer Western Union, thanks to the extensive network of agents allows to transfer money around the world even in areas that, due to the low presence of banks and financial institutions, do not allow the profitable use of traditional banking services.

Also in 2021, to facilitate customers in this difficult period, an agreement was reached with Western Union to cut costs to zero for remittances made through Money Transfer throughout the first half of 2021. Conversely, in the second half of the year, the Welcome initiatives were launched, providing zero-commission remittances for new customers signing up to the Money Transfer service. During 2021, over 72,000 remittances were made for a total of almost 42 million euro.

Permanent observatory on financial inclusion project

In 2021, a Permanent Observatory on Financial Inclusion was established to systemise the connections between all the actors met in the past in various working groups, inside and outside the Bank, in institutions, research centres, universities, foundations and so as not to lose the wealth of people, proposals and knowledge acquired with the study project on financial inclusion of migrants (2018-2020). It is a project that aims to turn the systemic approach into a method of study and work and to enhance and structure these experiences, with shared logic, procedures and proposals. It is believed that such a method can be a key factor in structuring the experience of the project on the financial inclusion of migrants compared to other “vulnerable” segments of the population. The objective of the Permanent Observatory, in addition to constantly monitoring the phenomenon of financial exclusion and measuring the effectiveness of the adopted measures and strategies, will therefore be to facilitate network connections and the progress of effective proposals at the system level.

Fund for Impact

The Fund for Impact, an instrument provided by the 2018-2021 Business Plan, created in 2019 and with an endowment extended to 300 million euros following the integration of UBI into the Intesa Sanpaolo Group, is intended to allow the disbursement up to 1.5 billion in social impact credit to categories with difficulties in accessing credit despite their potential.

The 2022-2025 Business Plan confirmed the relevance of these issues and the continuation of the initiative as a priority for achieving financial inclusion.

The Fund for Impact supports the following initiatives:

  • Per Merito, the unsecured loan mainly intended for university students, which in 2021 financed 8,550 students by disbursing them approximately 71 million euros (approximately 162 million since the beginning of 2019)
  • MAMMA@WORK, a loan intended for working mothers so that they can manage the economic commitments relating to maternity while maintaining their working position. In 2021, the product financed 90 mothers, 175 from the start, for a total agreement of about 800 thousand euros;
  • XME StudioStation, a loan for families to support distance learning. In 2021, € 0.5 million was disbursed;
  • Obiettivo Pensione, a product that finances missing contributions to people who have lost their jobs and are awaiting retirement. The product provides for a long-term repayment of the financed amounts.

In 2021, new products were made available within the scope of Fund for Impact:

  • Per Crescere”, a loan dedicated to parents with school-age children, aimed at supporting training and education costs such as language courses or expenses for the development of psychomotor skills and speech therapy. Households with an ISEE not exceeding 40,000 euro can have access to a credit line of 2,000 or 3,000 euro per year for a maximum period of 5 years. At the end it is possible to return the sums used in 15 years
  • “Per Avere Cura”, a product aimed at people with severe disabilities or those who care for a non-self-sufficient family member, in order to make healthcare costs more sustainable, such as nursing services or the purchase of healthcare accessories and provide support to caregivers. This is done through a credit line of 6,000 euro per year for a maximum period of 2 years. At the end it is possible to return the sums used in 15 years
  •  “Per Esempio”, dedicated to young people who carry out the Universal Civil Service involved in social assistance projects. People aged 18 to 30, residing in Italy, who have finished an experience of Universal Civil Service and who have to incur expenses related to starting their first work experience, can have access. The loan, repayable in 15 years, is for an amount between 2,000 and 8,000 euro.

Microfinance projects and solidarity credit

Our commitment for the social growth of the communities where Intesa Sanpaolo operates resulted in numerous microfinance projects and initiatives aimed at the prevention of usury, in partnership with Shareholders’ foundations and local Onlus associations. 

In 2021 the Group disbursed about 112 million euro in microfinance or anti-usury projects, in Italy and abroad.

Initiatives both of a social nature, to support the income of families, and of an entrepreneurial nature, for the creation of micro and small businesses, with a catchment area essentially in the Milan area, see Intesa Sanpaolo as a partner of the Lombarda Antiusura Foundation and the Welfare Foundation Ambrosiano.
There are also other agreements for the credit inclusion of disadvantaged individuals or small businesses and for anti-usury initiatives, active with shareholder foundations, other foundations, local non-profit organizations and non-profit organizations (e.g. Adiconsum, Exodus 94, Fondazione San Nicola Medici, etc.).

In addition, the Bank makes available the entrepreneurial micro-credit loan, dedicated to micro-enterprises in the start-up phase of a new business or when investing in growth projects, offering them the possibility of accessing credit even without collateral.

Particularly important, in many projects launched, is the collaboration with VoBIS (Banking Volunteers for Social Initiatives), a national non-profit association of former bankers who put their skills at the service of citizens and non-profit organizations, carrying out accompanying and tutoring of applicants.


Even in the Group's foreign banks, attention is paid to the weakest groups. In particular, Bank of Alexandria has developed over the years various products dedicated to non-bankable subjects to improve living and working conditions in the poorest areas of the country. The bank aims to position itself as a reference for financial inclusion, economic empowerment and income support for small businesses and non-banked customers, with a greater focus on small farmers and artisans. In 2021, the Bank disbursed over 43,600 loans for a total of approximately € 87 million, also providing customers with advisory services aimed at increasing their financial education, in collaboration with various strategic partners, including the World Food Program (WFP) .

Support for Third sector

The commitment to playing a leading role in the social and cultural growth of the community to which it belongs led Intesa Sanpaolo to build up its tools and initiatives in favor of Third sector organizations, called upon to overcome the increasing difficulties that public entities must face in order to provide citizens with adequate services.

The Solidarity and Development Fund supports the operations of the Impact Department of Intesa Sanpaolo, facilitating the granting of credit to customers in the Third Sector with good prospects but some difficulties in accessing credit. 
The Department operates with respect to the Third Sector with an offer dedicated to its organisations, a total deposit of about 9 billion euro, of which about 6.9 billion in direct deposits, as well as loans for about 2.8 billion.

Initiatives and organizations

Among the initiatives, For Funding deserves mention. For Funding is the social crowdfunding platform of the Group aimed at organisations, non-profit associations and foundations which want to launch a fundraising campaign. The initiatives are selected by an internal team which assesses the beneficiary organisation and the type of projects so as to enhance the value of the most deserving. Each transaction is free for both the donor and the beneficiary. For Funding is a unique and distinctive model in the world of social crowdfunding and for loans to non-profit projects. In 2021, For Funding raised about 11.4 million euro in donations, exceeding the 2020 amount that had ranked it in 2020 as the leading Italian Donation Crowdfunding platform. In 2021, the FORMULA programme was activated through which more than 30 projects were launched and supported by For Funding throughout the national territory. These projects are identified by the Bank’s local structures, which have a thorough knowledge of their local area and are thus able to learn about important charitable initiatives that fail to obtain the visibility they need, as they are small organisations in small local realities. The projects aim, for example, to support reception centres for children in difficulty, social cooperatives that seek to prevent the marginalisation of adolescents, facilities for the elderly and disabled persons, but also aim to redevelop the suburbs or particular spaces, such as sports complexes that help to combat situations of hardship for young people through the aggregation and values of sport. In 2021, more than 5.3 million euro were raised for projects within the scope of FORMULA.

The Bank has developed a rating model of social businesses that integrates the traditional methods of bank analysis with important elements for the non-profit organizations, such as the ability to fund raising, success in projects funded by Public bodies and Foundations.

In this way, we assess clients on elements of debt sustainability and social projects, that also take into account the peculiarities of the non-profit world and of its specific "intangible asset".

Social impact loans*

   Intesa Sanpaolo (excluded UBI Banca Group)
ISP+UBI*
Intesa Sanpaolo (included UBI Banca Group)
  2019
2020 2020
2021
Loans granted for social purposes [K euro]** Italy Abroad Group Italy Abroad Group Group Italy Abroad Group
Micro-finance
16,167
57,699
73,866 6,027
77,898
83,925
83,925
10,023 87,218 97,241
Anti-usury loans
1,480
0 1,480
1,305
0 1,305
7,130
14,661 0 14,661
Loans to the Third Sector
205,370
0 205,370
470,698
0 470,698
522,335
460,379 0 460,379
Products for vulnerable social groups 3,178,120
253,693
3,431,814
4,280,170
267,240
4,547,410
4,890,282
5,499,202 292,955 5,792,157
Support for people hit
by disastrous events
136,907
0 136,907
32,071,647
0 32,071,647
34,778,449
14,264,890 0 14,264,890
Total 3,538,044
311,392
3,849,437
36,829,847
345,138
37,174,985
40,282,120
20,249,155 380,173 20,629,328

* UBI Banca Group figures are only included as from the date of its consolidation into the Intesa Sanpaolo Group (last 5 months of 2020).

** It includes medium/long term loans provided by the Third Sector network and by Banks in Italy. In 2021, the total of high social impact loans accounted for 26.6% of total loans disbursed by the Group (vs 42.5% in 2020). The trend of high social impact loans is mainly influenced by the disbursements relating to 2020 in favour of the category most hard hit by COVID-19, in response to the first phase of the pandemic, which were higher than in 2021. More specifically, in 2021 almost 14 billion euro in loans were granted by the Group as part of the “Liquidity Decree” (approximately 43 billion euro since the start of the health emergency).

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