2024 Results The best year ever Ready to be a well above €9bn Net income Bank A strong bank for a sustainable world February 4, 2025 2024 results: an excellent year… | B t- i l f i t b i l i t € 8 7 b e s n- c a s s p r o a y n . l l t i € 0. 9 b G i t d i t h i a o c a n g n r o s s n c o m e o s u c c e e n e c o m n g y e a r s E f f e c t i v e c o s t m a n a e m e n t 4 2 7 % C o s t / I n c o m e r a t i b e s t- i n- c l a s s i n E u r o e g o, p . ( 1 ) Z N P L B k 1 0 % N t N P L t i t h i t i l ...

Core Insights - Intesa Sanpaolo achieved a record net income of €8.7 billion for 2024, marking a 12% increase from 2023, and plans to distribute €6.1 billion in cash dividends to shareholders [1][8] - The bank has raised its net income guidance for 2025 to well above €9 billion, indicating strong profitability and a solid capital position [2][7] Financial Performance - The bank experienced significant revenue growth, with commissions rising by 9% year-over-year and insurance income reaching an all-time high with a 4% increase [3] - Customer financial assets grew by €77 billion, totaling approximately €1.4 trillion, supported by €5.1 billion in net inflows into Assets under Management (AuM) in Q4 [3] Cost Management - Intesa Sanpaolo maintained a record-low cost/income ratio of 42.7%, reflecting effective cost discipline despite heavy investments in technology [4] Technology Investments - The bank invested €4.2 billion in digital transformation, hiring over 2,300 IT specialists and migrating 62% of its applications to the cloud [5] - The digital-only platform Isybank saw significant growth, with over 500,000 new customers in Q4, bringing the total customer base close to 900,000 [5][8] Social Impact Commitment - In 2024, Intesa Sanpaolo allocated approximately €340 million to social impact initiatives aimed at combating poverty and reducing inequalities [6] Future Outlook - The bank anticipates net income to exceed €9 billion in 2025, with plans to return over €6 billion in cash dividends and evaluate additional distributions at year-end [7][9] - The diversified business model, focused on Wealth Management and Protection, is expected to perform well under various interest rate scenarios [9]

Group 1 - Intesa Sanpaolo is the top bank in the eurozone by market capitalization, reaching €69 billion at the end of 2024 [1][6] - The bank has revised its net income guidance for 2025 upward to €9 billion, indicating a pivotal year ahead under the leadership of Chairman Gian Maria Gros-Pietro and CEO Carlo Messina [2] - The year-end market capitalization is based on a closing share price of €3.86 on December 30, 2024, the last trading day on the Milan Stock Exchange [3] Group 2 - Intesa Sanpaolo's price-to-book ratio is higher than that of major global banks such as HSBC and UBS, reinforcing its leadership position [4] - The year 2025 marks the conclusion of a four-year business plan launched in 2022, with shareholders set to elect a new Board of Directors in the Spring [7] Group 3 - Over the past 10 years, Intesa Sanpaolo's total shareholder return grew by 213%, leading the eurozone in terms of growth in share value plus dividend distributions [8] - During the same period, the bank's share price rose by 115%, with its market capitalization increasing by €40 billion since January 2014 [8] - Dividends distributed over the past decade reached €31 billion, resulting in a cumulative cash dividend yield of 98% [8]

Group 1 - The article discusses the importance of fundamental, income-oriented, long-term analysis conducted by buy-side hedge professionals across various sectors in developed markets globally [1] - It emphasizes the need for open discussions and idea sharing among professionals in the investment community [1] Group 2 - The analyst has disclosed a beneficial long position in the shares of ISNPY and IITSF, indicating a personal investment interest in these companies [2] - The article reflects the author's personal opinions and does not involve compensation from any mentioned companies, ensuring an independent perspective [2]

Core Insights - Intesa Sanpaolo has distributed €3 billion in interim dividends for 2024, leading the eurozone banks with a total shareholder return increase of +205% since January 1, 2014 [1] Group 1: Financial Performance - Under the leadership of Carlo Messina, Intesa Sanpaolo achieved a 107% increase in stock market value, resulting in a €37 billion rise in market capitalization since January 2014 [2] - The bank has distributed a total of €31 billion in dividends to shareholders, yielding a cumulative dividend yield of 98%, including the recent interim dividend [2] Group 2: Comparison with Competitors - In comparison, Santander raised €15 billion through capital increases and distributed €23 billion in dividends, while BNP Paribas distributed €35 billion with a cumulative dividend yield of 51% [3]

Core Viewpoint - Intesa Sanpaolo, Italy's largest bank by assets, is on track for another exceptional year with robust earnings and a nearly 60% year-to-date stock return in USD terms, including dividends [1]. Financial Performance - The bank's earnings remain incredibly strong, contributing to its positive stock performance [1]. Investment Perspective - The investment approach favored is long-term, buy-and-hold, focusing on stocks that can sustainably deliver high-quality earnings, particularly in the dividend and income sectors [1].

Intesa Sanpaolo S.p.A. (OTCPK:ISNPY) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Carlo Messina - Chief Executive Officer Conference Call Participants Antonio Reale - Bank of America Azzurra Guelfi - Citi Andrea Filtri - Mediobanca Delphine Lee - JPMorgan Giovanni Razzoli - Deutsche Bank Ignacio Ulargui Lopez - BNP Paribas Exane Pamela Zuluaga - Morgan Stanley Hugo Cruz - KBW Andrea Lisi - Equita Fabrizio Bernardi - Intermonte Operator Good afternoon, ladies and gentlem ...

MILAN, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Intesa Sanpaolo posted record-breaking results for the first nine months of 2024, with net income reaching €7.2 billion, a 17% increase over the previous year.  Read excerpts from CEO Carlo Messina’s remarks highlighting Intesa Sanpaolo’s unique strengths, including its strategic investments in digital transformation, which position Intesa Sanpaolo for sustained growth.  “The results of the first nine months of 2024 reaffirmed Intesa Sanpaolo’s position as a Europea ...

A strong bank for a sustainable world 9M24 Results The best nine months ever with €7.2bn Net income Best-in-class Wealth Management, Protection & Advisory, accelerating our tech transformation October 31, 2024 MIL-BVA362-03032014-90141/VR 9M24 results: key achievements | --- | --- | --- | |---------------------------------------------------------|-----------------|-----------------------------------------------------------------------------------------------------| | Best-in-class profitability | €7.2bn | N ...

Group 1 - The focus is on long-term growth and dividend growth investing, emphasizing the importance of profitability over low valuation [1] - The analysis prioritizes margins, free cash flow stability and growth, and returns on invested capital as key metrics for evaluating companies [1] - The approach involves researching stocks within specific areas of competence, with a tendency to delve deeper into high-quality companies once identified [1]