Intesa Sanpaolo: Consolidated Results as at 30 September 2021

8 November 2021, Turin, Milan, Moscow. At its meeting on November, 3, the Board of Directors of Intesa Sanpaolo approved the consolidated interim statement as at 30 September 2021.

The results for the first nine months of 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 €4bn envisaged for full year 2021.

The results reflect Intesa Sanpaolo’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.

Value generation for all stakeholders will be accreted by synergies estimated at over €1bn deriving from the merger of UBI Banca, successfully completed with no social costs, and by over €6bn in 2020 and almost €500m in 9M 2021, both out of pre-tax profit, devoted by the Group to further strengthening the sustainability of results.

Operating income in Q3 2021 was €5,092M (-1.8% versus Q2 2021), and for 9 months of 2021 was €15.766M (+3.4% versus 9 months of 2020).

Operating costs in Q3 2021 were €2.638V (-1.1% versus Q2 2021), and for 9 months of 2021 were €7.893M (-2.3% versus 9 months of 2020).

Operating margin in Q3 2021 was €2.454M (-2.5% versus Q2 2021), and for 9 months of 2021 was €7.873M (+9.8% versus 9 months of 2020).

Gross income in Q3 2021 was €1.892M versus €1.700M in Q2 2021, and for 9 months of 2021 was €6.205M versus €5.366M for 9 months of 2020.

Net income in Q3 2021 was €983M versus €1.507M in Q2 2021, and for 9 months of 2021 was €4.006M versus €3.112M for 9 months of 2020, excluding the acquisition of UBI Banca.

Capital ratios: common equity tier 1 ratio after distribution of reserves in October 2021 and after dividends accrued in 9M 2021

• 14,3% phased in;

• 13.8% fully loaded;

• 15.1% pro-forma fully loaded.

As at 30 September 2021, the Intesa Sanpaolo Group’s operating structure had a total network of 5,201 branches, consisting of 4,207 branches in Italy and 994 abroad, and employed 97,600 people.

 

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