Financial Results of Intesa Sanpaolo Group for 9M 2021


The results for 9m 2021 have confirmed Intesa Sanpaolo’s ability to respond effectively to the complexities brought about by the pandemic and have already made it possible to achieve the minimum net income of €4 billion envisaged for full-year 2021.

These results reflect the Group’s sustainable profitability deriving from a solid capital base and liquidity position, a resilient and well-diversified business model, strategic flexibility in managing operating costs and asset quality. These features have made it possible to effectively mitigate the impact of the adverse scenario of the 2021 EBA/ECB stress test and are reflected in a 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 generation for all stakeholders will be accreted by synergies estimated at over €1 billion deriving from the merger of UBI Banca, successfully completed with no social costs, and by over €6 billion in 2020 and almost €500 million in 9m 2021, both out of pre-tax profit, devoted by the Group to further strengthening the sustainability of results.

Net income to €4,006 m in 9m 2021, up by 28.7% versus €3,112m in 9m 2020 excluding the provisional negative goodwill generated in Q3 2020 by the acquisition of UBI Banca.

Gross income up by 15.6% on 9m 2020.

Operating margin up by 9.8% on 9m 2020.

Net fee and commission income up by 11.5% on 9m 2020.

Operating costs down by 2.3% on 9m 2020.

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