Core Insights - Intesa Sanpaolo has launched its 2026–2029 Business Plan, focusing on existing businesses, prior investments, and a proven operational model [2] - The Plan aims for a sustainable Return on Equity (ROE) exceeding 20% and maintains a Zero-NPL profile, supported by a technology- and fee-driven business model [3] Business Strategy - The strategy emphasizes a fully integrated Wealth Management, Protection, and Advisory platform, expecting to gain 2.5 million new customers through enhanced digital offerings and advisory capabilities [4] - In Italy, the Business Plan includes the expansion of advisory networks, particularly the Global Advisors network, which aims to become the third-largest financial advisory network in the country [5] International Growth - The International Banks Division is identified as a key growth driver, with plans to replicate the successful Italian business model in international subsidiaries, aiming to establish a Fideuram-style advisory network with around 1,200 advisors by 2029 [6] New Strategic Initiatives - The introduction of isywealth Europe aims to leverage Intesa Sanpaolo's Wealth Management leadership and technology investments to challenge key European markets like France, Germany, and Spain [7] Financial Projections - By 2029, the Group targets net income exceeding €11.5 billion, with a ROE of 22% and a Return on Tangible Equity (ROTE) of 27%, while projecting a 3% CAGR in revenues [8] - The Group anticipates delivering approximately €50 billion in capital returns over the 2025–2029 period, with a cash dividend payout ratio of 75% and share buybacks constituting around 20% of total distributions [9] Technology and Sustainability - Technology plays a crucial role, with the rollout of isytech, a cloud-native platform, aiming for 100% cloud operation by 2029, and the integration of Artificial Intelligence to enhance productivity and risk management [10] - The Business Plan is expected to contribute about €500 billion to the real economy, including over €370 billion in new medium/long-term lending, with 30% allocated to sustainable financing [11]