Impact Assessment of the “per Merito” and “mamma@work” products 2025

May 4, 2026

Also for 2025, Intesa Sanpaolo has updated the report on the results of the social impact assessment of the “per Merito” product, dedicated to supporting students, and “mamma@work”, designed for working new mothers.

Both products are supported by the Fund for Impact, an Intesa Sanpaolo instrument aimed at promoting high–social-impact financial inclusion initiatives. The Fund has an allocation of €300 million and enables the provision of leveraged credit of up to €1.5 billion.

The social impact assessment of “per Merito” and “mamma@work” is carried out by the Impact Department of Intesa Sanpaolo’s Retail Banking Division (Divisione Banca dei Territori) through the Impact Survey – RIM, which uses dedicated questionnaires to evaluate the effects generated by the Bank’s credit on beneficiaries and on society.

In 2025, results for "per Merito" show that, thanks to the support provided by this product, approximately 26% of students do not give up their studies and 7% do not change their original study plans.

The analysis of the questionnaires also made it possible to estimate broader impacts generated for beneficiary students across social, fiscal, welfare, and economic dimensions.
By applying the SROI (Social Return on Investment) methodology, an SROI of 3.2 is estimated over a 20‑year horizon: every euro invested generates more than 3 euros of social value.

With regard to "mamma@work", the RIM impact assessment shows that the product generates positive effects on employment choices for 39% of beneficiaries: 27% do not leave employment and 12% avoid switching to part-time work.
Impact measurement identifies job retention as the main economic benefit.

By applying the SROI methodology, a benefit of €32.9 million is estimated over a 20‑year period, against an investment of approximately €10 million, corresponding to an SROI of 3.1.