Italy · Delayed Price · Currency is EUR Intesa Sanpaolo Earnings Call Transcripts
Fiscal Year 2025
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Record net income, strong capital, and cost efficiency enabled overdelivery on targets and a €50B capital return plan. The new strategy focuses on technology, wealth management, and international expansion, with conservative risk and upside potential from deposits and AUM conversion.
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Record 9-month net income of €7.6B and a 20% ROE were achieved, with strong growth in commissions, insurance, and customer assets. Capital ratios and asset quality remain among the best in Europe, supporting a robust outlook and higher shareholder returns.
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Record H1 net income of EUR 5.2 billion and 20% ROE led to upgraded 2025 guidance well above EUR 9 billion. Cost/income ratio hit a record low, asset quality remains strong, and significant shareholder returns are planned, supported by robust capital and loan growth.
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Record Q1 net income and ROE, with strong growth in commissions, cost efficiency, and asset quality. 2025 net income is guided well above €9 billion, with robust capital, high shareholder returns, and positive outlook for loan and fee growth in H2.
Fiscal Year 2024
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Record net income and strong capital position enabled increased dividends and a new €2 billion buyback. Double-digit growth in wealth management and commissions is expected for 2025, with no plans for M&A and continued focus on organic growth.
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Net income for the first nine months reached €7.2 billion, with strong growth in commissions, insurance income, and customer assets. Cost reductions and tech investments support a best-in-class cost-income ratio, while 2024 and 2025 guidance for net income is above €8.5 billion and around €9 billion, respectively.
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Record H1 net income of EUR 4.8 billion and raised full-year guidance above EUR 8.5 billion, driven by strong net interest income, commissions, and insurance. CET1 ratio exceeds 13.5%, cost-income ratio at record low, and further buybacks and capital returns are expected.