The Group’s priority objective is to preserve the sustainability of results in a macroeconomic scenario which is showing a slight improvement. Considerable attention - in addition to profitability targets - is given to actions aimed at further strengthening the capital solidity and improving the risk and liquidity profiles. The capital base remains high, whilst the risk profile remains relatively low. Being a solid bank with growing profitability means that we can make a positive contribution to the interests of shareholders and all stakeholders. With the 2014-2017 Business Plan, we have achieved some important results that demonstrate the ability to live up to the commitments made with the markets, to keep our promise to protect employment of staff and to be alongside our customers, even those experiencing potential problems, by activating internal processes and structures to avoid deterioration of credit fundamentals.


How it is managed
Departments/Functions in charge
2015 Results

All the company departments are involved in implementing business solidity and profitability protection policies.

Among other things, the Management Board of the Parent Company is responsible for: formulating proposals on general planning and strategic guidelines of the Bank and the Group, to be submitted to the Supervisory Board for approval; preparing business and/or financial plans and the budget of the Bank and the Group, to be submitted to the Supervisory Board for approval; periodically monitoring the implementation of strategic, business and/or financial plans of the Bank and the Group; proposing risk management guidelines and policies, to be submitted to the Supervisory Board for approval.

The corporate policies take into consideration the analysis and economic debate of Italy's main structural problems and of issues relating to the international economy important to the Group. The aim is to continue being a reference Bank for the country's real economy, with the reciprocal benefit of long-term growth.

The Supervisory Board is responsible for guidance, strategic supervision and control of the Bank and, taking Management Board proposals into account, decides on the general planning and strategic guidelines of the Bank and the Group, approves the business and/or financial plans and the budget of the Bank and the Group, along with any amendments, authorises strategic transactions and approves the strategic guidelines and policies on risk management.

The consolidated results at the end of 2015 recorded strong profitability growth, above the 2014-2017 Business Plan targets, proposed cash dividends amounting to 2.4 billion euro to be distributed to shareholders, very strong capital base with coefficients largely above regulatory requirements, net income of 2.7 million euro, with a positive trend in net interest income and strong growth in net fee and commission income, strong asset management performance and reduction in provisions reflecting an improving credit trend. Intesa Sanpaolo continued to be an accelerator of the growth of the real economy: 48 billion euro of new medium and long-term loans to households and businesses in 2015. In Italy, 20,000 companies were brought back to performing loan positions in 2015 (29,000 in 2014)

The economic results achieved also enabled Intesa Sanpaolo to allocate 12 million euro to charitable activities carried out by the Parent Company and the Banks in Italy. Furthermore, there was also a number of initiatives in the social and cultural sphere and other actions taken through social and cultural contributions made by the Parent Company by using the charity funds constituted in previous years. Intesa Sanpaolo's philanthropic strategy in 2015 was characterised by a focus on national and local projects with a significant social impact in favour of the most vulnerable people and those hit most severely by the economic crisis.

Performance indicators and objectives achieved

Indicator2014 results2015 resultsObjective Cumulative
value 2014-2017
Growth in revenues +3% +2% 4%(*)
Percentage of Net fee and commission income/Total revenues 40% 44% 43%
Cost/Income 51.1% 51.4% 46.1%
Cost of credit 1.35% 0.94% 0.80%
CET1 – Fully Loaded 13.3% 13.1% 12.2%
LCR and NSFR >100% >100% >100%
Financial Leverage (**) 17.3% 17.4% 17.4%
Overall contribution to the
community (***) (millions)
60.2 56.6 Support and cooperation
with the territories and the communities
in which the Bank
operates for the development
of projects in areas in difficulty

(*) CAGR 2013-2017

(**) Total Tangible Assets/Total Return on Tangible Equity, including Net Income, net of dividends paid or payable and excluding Goodwill and other intangible items.

(***) Measurement according to the London Benchmarking Group model, which includes cash contributions, in-kind contributions, time contributions and management costs.