Full year 2021 results – Highlights


Intesa Sanpaolo’s excellent full-year 2021 financial results reflect the Group’s unique and resilient business model as a European leader in Wealth Management & Protection, strongly focused on commissions, highly efficient and low risk.

Even under stress from the pandemic and while successfully merging UBI Banca, Intesa Sanpaolo continued to achieve excellent results, further strengthening its balance sheet and rewarding shareholders.

Net income has been growing for eight consecutive years, while paying €19 billion in cash dividends for the period 2014-2021. In 2022, the Bank will achieve a Net Income above €5 billion, with a dividend payout ratio of 70%.

Some highlights from the 2021 results:

  • Best year since 2007 for Net Income at €4.2 billion (+19% vs FY20)
  • €2.9 billion cash dividends paid for 2021, equal to a 70% payout ratio
  • Best-ever year for Operating income in 2021 was at the level 20, 786 billion euros and higher by 1,9% vs 2020 and Operating margin in 2021 was at the level 9, 866 billion euros and higher by 5,4% vs 2020
  • Best-ever year for Commissions (+9.3% vs FY20) with €90 billion growth in Customer financial assets to fuel the Wealth Management business in the future
  • Decrease in Operating costs, with Cost/Income down to 52.5%.
  • Between 2020 and 2021, Intesa Sanpaolo has allocated around € 8 billion in additional revenue to increase the Group's future resilience.
  • Operating costs in 2021 amounted to 10.920 billion euros, down 1.1% from 2020.
  • Gross income in 2021 amounted to 6.639 billion euros against 6.188 billion euros in 2020.
  • As at 31 December 2021, the Intesa Sanpaolo Group had 4,719 branches, of which 3,740 were in Italy and 979 abroad. The total number of employees is 97,698 people.

The Bank maintained a best-in-class capital position, with a Common Equity ratio at 15.2%. In 2021, gross NPLs decreased by €5.7 billion on a yearly basis.

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