With a Net income of €7.7 billion, Intesa Sanpaolo’s 2023 financial results are the best ever, enabling the Group to reward shareholders with a cash dividend of €5.4 billion.
Intesa Sanpaolo’s dividend yield is the highest in Europe at 12%, and earnings per share nearly doubled versus last year.
A new share buyback equivalent to around 55 bp of the Common Equity Tier-1 ratio is intended to be launched in June, subject to ECB and shareholder approvals.
Net income for 2024 and 2025 is expected to be above €8 billion. As a Wealth Management, Protection & Advisory leader, Intesa Sanpaolo’s well-diversified business model allows it to excel in any rate scenario.
With over €850 billion in Direct deposits and Assets under Administration, a €100 billion pool is ready to fuel growth in Assets under Management, thanks to the Group’s delivery machine of more than 16,000 private bankers, financial advisors and relationship managers.
Intesa Sanpaolo’s excellent 2023 performance benefits all its stakeholders:
- Shareholders: €5.4 billion cash dividends, with around 40% (~€2.2bln) going directly to Italian households and to charitable foundations
- Employees: €7 billion in personnel expenses and strong promoters of the Italian national banking-sector labour contract renewal, resulting in an average €435 increase in monthly salary at run rate, benefitting around 70,000 People of the bank and their families (>200,000 people)
- Public sector: €4.6 billion in taxes
- Households and businesses: €60.4 billion in medium/long-term new lending, of which €40.3 billion in Italy
Intesa Sanpaolo's full-year 2023 results exceed the 2022-2025 Business Plan targets and its €1.5 billion contribution to initiatives and projects aimed at reducing inequality by 2027, further strengthens its world-class position in Social Impact.
Full-year 2023 Results – Highlights:
- €7.7 bn Net income in 2023, the best year ever
- €1.6 bn Net income in Q4, the best fourth quarter ever, while strengthening the balance sheet
- Best-ever year for Operating income, Operating margin and Gross income
- Lowest-ever Cost/Income ratio (45.1%)
- €102 bn increase in Customer financial assets in 2023, reaching €1.3 trillion
- Lowest-ever Cost of risk with an increase in NPL coverage ratio and lowest-ever NPL inflows
- Rock-solid and increased capital position with fully phased-in Common Equity ratio up at 13.7% (13.2% taking into account ~55 bps buyback)
- €5.4 bn cash dividends for 2023
- Zero-NPL Bank with net NPL ratio at 0.9%, low Cost of risk and €0.9 bn as overlays
More information on the financial results together with the outlook and main industrial initiatives of the Intesa Sanpaolo 2022-2025 Business Plan, are available in the Group’s Investor Relations section.
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