Results for 2020 confirm Intesa Sanpaolo’s ability to effectively face the challenging aftermath of the COVID-19 epidemic. They reflect the Group’s sustainable profitability, which derives from a solid capital base and a strong liquidity position, a resilient and welldiversified business model and the strategic flexibility in managing operating costs.
Substantial NPL deleveraging achieved in the last three years, above all in 2020, has further reduced Intesa Sanpaolo’s low risk profile bolstering the support provided to Italy by the Group, which is also committed to becoming a reference model in terms of sustainability and social and cultural responsibility. Value creation will increase through the merger with UBI Banca and more than € 6 billion in pre-tax profits allocated by the Group in 2020 to further strengthen sustainable development and to reserve for the new effects of COVID-19.
The process of integration of UBI Banca takes place without social losses and is ahead of the original plan.
«In the extremely difficult context of 2020, we exceeded our target and generated a net profit of € 3.1 billion, with a normalized net profit of € 3.5 billion, excluding the impact of the merger with UBI Banca and the voluntary waiver of some payments.
Intesa Sanpaolo's ability to achieve and exceed their goals even in times of extreme difficulty is due to the professionalism of its staff. I am personally grateful to them for their ability to support families and businesses by taking extraordinary credit measures, and for the constant attention they pay to managing our clients' savings. Achieved significant positive results allow our Bank to continue to play the role of an engine in the service of inclusive and sustainable growth», - stated the CEO of Intesa Sanpaolo Carlo Messina.
OPERATING INCOME: Q4 2020 4.1% €4,251M FROM €4,083M IN Q3 2020
2020 -4.2% €17,409M FROM €18,167M IN 2019
OPERATING COSTS: Q4 2020 13.3% €2,487M FROM €2,196M IN Q3 2020
2020 -3.4% 0 €9,086M FROM €9,407M IN 2019
OPERATING MARGIN: Q4 2020 -6.5% €1,764M FROM €1,887M IN Q3 2020
2020 -5% €8,323M FROM €8,760M IN 2019
GROSS INCOME: Q4 2020 €196M FROM €997M IN Q3 2020
2020 €5,052M FROM €6,560M IN 2019
Q4 2020 €-3,099M
€10M FROM €507M IN Q3 2020, EXCLUDING THE ITEMS RELATED TO THE ACQUISITION OF UBI BANCA , THE ACCOUNTING IMPACT OF THE RELATED GOODWILL IMPAIRMENT, AND THE CONTRIBUTION OF UBI BANCA
€3,083M FROM €4,182M IN 2019, EXCLUDING THE ITEMS RELATED TO THE ACQUISITION OF UBI BANCA , THE ACCOUNTING IMPACT OF THE RELATED GOODWILL IMPAIRMENT, AND THE CONTRIBUTION OF UBI BANCA
CAPITAL RATIOS: COMMON EQUITY TIER 1 RATIO AFTER DIVIDENDS PROPOSED:
15.4% PRO-FORMA FULLY LOADED, 16.9% EXCLUDING THE
ACQUISITION OF UBI BANCA, 15.9% INCLUDING THE ACQUISITION OF UBI BANCA BUT EXCLUDING ASSETS OF THE GOING CONCERN TO BE SOLD TO BPER BANCA
14.7% PHASED-IN, 16.5% EXCLUDING THE ACQUISITION OF UBI BANCA, 15.3% INCLUDING THE ACQUISITION OF UBI BANCA BUT EXCLUDING ASSETS OF THE GOING CONCERN TO BE SOLD TO BPER BANCA