Why this issue is significant
Access to credit and the financial inclusion of individuals, businesses and entities are an essential leverage in guaranteeing profitable and sustainable business for the Group in the long term. The correct allocation of resources and the ability to identify local players with whom agreements and synergies can be developed to facilitate inclusion also for vulnerable people, preferring counterparties that meet requirements in terms of repayment capacity, guarantee the correct flow of resources to the real economy and allows development and growth.
Asset management activities also expect to see great innovation in the development of customer services, both with a view to the investments offered and in the forms of protection and welfare, becoming an increasingly determining factor in the long-term well-being of households. The Intesa Sanpaolo portfolio of solutions makes available funds that apply SRI (Social Responsible Investment) selection criteria in compliance with the principles of the Code of Ethics also with the aim of activating sustainability dynamics in businesses and customer choices.
Intesa Sanpaolo has set out codes of conduct in relation to credit risk acceptance, in order to prevent excessive concentrations, limit potential losses and ensure credit quality, thereby guaranteeing risk monitoring and constant monitoring of trends.
In the credit granting phase, coordination mechanisms have been introduced – from the Granting and Management Powers and Rules to the detailed Operating Guides – with which Intesa Sanpaolo exercises its direction, governance and support of the Group. With regard to Third Sector customers, a version of the rating model has been developed that is better suited to the characteristics of this type of customers.
The offer of ethical investment funds envisages clear and articulated positive and negative selection criteria for securities to be included in the portfolio and the supervision of a Sustainability Committee (external and independent).
The Corporate Bodies play a crucial role in risk governance and control, ensuring adequate coverage, setting strategic guidelines and risk management policies, verifying that they remain constantly efficient and effective and assigning tasks and responsibilities to the company functions and units involved in the processes.
The current organisational structure includes, in addition to the Business Units, important central responsibility areas. These areas - suitably segregated - guarantee that the management duties are carried out and the risk control activities are implemented.
In 2015 Intesa Sanpaolo disbursed 48 billion euro to households and businesses. In an economic context that is starting to show signs of an improvement, the initiatives that confirm the traditional vocation of being a Bank in the real economy continued. Among the most important: an integrated plan of action for all needs related to house purchases, from consultancy and trading to financing and protection products. Participation in the Guarantee Fund for Main Home Purchasing of the Ministry for the Economy and Finance, which helps households also for the energy efficiency projects of their first home and the Agreement between ABI and the consumer associations for the 12-month suspension of loan instalments to households in difficulty; the range of new loans for young people with loans of honour to enhance the talents who will make up the world of tomorrow.
The activity to support the Third sector and the social economy continued with new medium and long-term loans in support of social enterprises for about 200 million euro. Banca Prossima has continued to develop the innovations proposed in recent years, in particular "social finance" products.
The offer targeted at companies has seen the launch of "Programma Filiere", which defines a new collaboration model between the Bank and companies by improving credit access conditions with investments in industrial supply chains and a new risk assessment approach which takes into account qualitative elements. On the subject of innovation, consolidated activities continued in favour of customers and start-ups with the Intesa Sanpaolo Start-Up Initiative programme, which in recent years has recruited and trained more than 900 start-ups. As for loans to Italian companies investing in innovation and research, the "Nova+" program continued, supplementing the traditional credit rating analysis with a technical and business assessment of the investment plan.
With regard to the offer of ethical funds, Eurizon Capital has strengthened its active role of investor responsible for the companies present in the portfolios, developing a structured monitoring dedicated to corporate governance activities by adhering to the Stewardship Principles.
Selection of the main performance indicators and objectives achieved
|Indicator||2014 results||2015 results||2017 objectives |
|Households and businesses: New medium/long-term credit granted to the real economy||34 billion euro||48 billion euro||Approx. 170 billion euro|
|Third sector: New medium/long-term credit granted to social enterprises||200 million euro||~200 million euro||Approx. 1.2 billion euro|
|Financial inclusion: Credit granted to the vulnerable social groups||More than 3.6 billion euro||More than 3.2 billion euro||Support to vulnerable social groups|
|Nova+ loans to business innovation||From 2011 more than 1.3 billion euro||From 2011 almost 1.4 billion euro||Support to companies that create innovation|