THE GUIDELINES OF THE 2014-2017 BUSINESS PLAN

The commitments undertaken by Intesa Sanpaolo through the 2014-2017 Business Plan are aimed at a solid and sustainable creation and distribution of value. These are the results of our activities as compared with the goals we set ourselves for 2017:

Commitments made2014 results2015 results2017 objectivesNotes
THE BANK AS GROWTH DRIVER
Creating value
Net income (Bn) 1.25 2.74 10.4(*) Better than Plan forecasts (~2.97 Bn total income forecast for 2014-15)
Dividends (Bn) 1.2 2.4 10 (*) Better than Plan forecasts (~3.0 Bn total dividends forecast for 2014-15)
Real-economy Bank    
MLT credit for real economy (Bn) 34 48 170 (*) In line with Plan forecasts (~82 Bn total new credit forecast for 2014-15)
Revenues from proprietary trading (% of total) 0.02% -0.04% Below 1% Revenues from proprietary trading were zero at the end of 2015. The Bank is focused on the greater generation of fee and commission income, which is more stable in time and reflects an intense development of relations with customers

Commitments made2014 results2015 results2017 objectivesNotes
HOW WE DO BUSINESS  
Banca dei Territori Service Model Launched. Three specialist business areas defined: Retail, Personal and Businesses Fully operational Strengthening and simplification of the Banca dei Territori model In line with Plan forecasts
Corporate simplification Creation of the SME Finance Hub and reduction of the number of banks belonging to the BdT to 14 Simplification from 14 to 10 banks Creation of the SME Finance Hub and reduction of the number of banks belonging to the BdT Division to 6 The Hub was created following the merger by incorporation of the Group’s leasing, factoring and agribusiness companies in Mediocredito Italiano: target achieved in 2014 (from seven product companies to one)    
Local bank abroad for Italian businesses

Selective presence in the commercial banking sector of countries in Central and Eastern Europe, the Middle East and North Africa

International network to support the activities of corporate customers abroad

International presence and customer support continues   Leading Italian Bank with a European scale Opening of the subsidiary in Brazil finalised and new Representative Office opened in Washington DC.
Simple and innovative bank and development of an integrated multi-channel platform    
Customers with multi-channel contract (thousands) 4,923 5,385 7,879 New multichannel processes already successfully tested: increase of ~460,000 multichannel customers in 2015 for a total of ~ 5.4 million customers

Commitments made2014 results2015 results2017 objectivesNotes
OUR PEOPLE  
Training Days and teaching (classroom, mentoring, remote training and Web TV) 1,220,824 1,309,039 5,000,000 days (*) In line with Plan forecasts
Inter-departmental and international career paths Planning  

Brain Swap: 27 Participants and 27 Tutors.

MIpath initiative: 47 paths developed.  

To guarantee virtuous processes for the “contamination” and the integration of skills present in the company, and to foster the acquisition and implementation of managerial skills in a process of growth also towards greater levels of complexity. Development of the skills and expertise of employees and consolidation of a common culture at Group level, assisted by international mobility
Leadership development: growth paths for employees to be assigned to coordination duties; assessments achieved Overall 2,649 Overall 2,023 (48% women) Enhancement of talent potential and adoption of systems that reward professionalism and leadership. Various projects already launched to strengthen and diversify people’s skills with proactive engagement methods as part of development paths.
Internal policies and communication to foster a Group culture based on service excellence and support for households and businesses "Insieme per la Crescita" (Together for Growth), a change management programme for the dissemination of excellent service practices in the Banca dei Territori Division: 1,400 branches and 65% of employees involved During 2015 the programme was extended to the entire Network, involving over 38,000 employees in approximately 4,300 branches. To foster, with increasingly engaging methods, the adoption of virtuous and ethically responsible conduct aimed at improving customer and employee satisfaction. "Insieme per la Crescita" effectively supported the implementation of the new service model
Internal policies for the enhancement of corporate welfare and employment support ALI: over 100,000 members
FSI: estimated 135 M in reimbursed services.
ALI: around 117,000 members
FSI: estimated 137 million in reimbursed services.
Flexible Work: used by 3,000 employees in 12 different Group companies  
An integrated corporate welfare system that interprets and implements new ways of regarding wellbeing and people. The integrated corporate welfare system was launched in full.    
Around 4,500 people involved in professional reassignment and requalification initiatives to support the development of the new business initiatives under the Plan. 2,600 1,630 4,500 (*) The reabsorption of excess staff can only be considered as consolidated when the Business Plan income and asset goals have been achieved, around 95% of excess resources have been reabsorbed into priority initiatives during the first two years of the Plan

Commitments made2014 results2015 results2017 objectivesNotes
THE BANK IN THE COMMUNITY  
Around 10 billion euro of (direct and indirect) tax will be paid in the four-year period   ~2.7 Bn   ~2.5 Bn ~10 Bn (*) Higher direct and indirect taxes than Plan forecasts (~3.9 Bn total taxes forecast for 2014-15)
Around 1.2 billion euro of medium/long-term loans to support social entrepreneurship initiatives   0.20 Bn   ~0.20 Bn ~1.2 Bn (*)  

(*) cumulative value 2014-2017.

The document “Stakeholder Engagement 2015 and Improvement Objectives”, which presents the stakeholders’ requests resulting from the 2015 engagement processes and the objectives pursued by the internal departments, is available in the Sustainability [@] section of the Intesa Sanpaolo website.