Intesa Sanpaolo reports record Net Income of €8.7 billion in 2024, raises 2025 Guidance

Intesa Sanpaolo’s full-year 2024 earnings highlights and CEO Messina’s remarks

MILAN, Feb. 04, 2025 (GLOBE NEWSWIRE) — Intesa Sanpaolo has posted its best-ever financial results, closing 2024 with a net income of €8.7 billion, up 12% compared to 2023. This outstanding performance enables the bank to distribute €6.1 billion in cash dividends to shareholders for 2024. Additionally, subject to shareholder approval, a new €2 billion share buyback will be launched in June.

With strong profitability and a robust capital position, Intesa Sanpaolo has raised its net income guidance for 2025 to well above €9 billion.

Strong revenue growth and cost efficiency

Intesa Sanpaolo recorded significant growth in commissions, up 9% compared to 2023, with acceleration in Q4. Insurance income reached an all-time high, increasing by 4% year-over-year.

Customer financial assets expanded by €77 billion, reaching around €1.4 trillion, supported by €5.1 billion in net inflows into Assets under Management (AuM) in Q4.

Despite heavy investments in technology, cost discipline remains a priority. The bank achieved a record-low cost/income ratio of 42.7%, one of the best in Europe.

Technology investments and digital transformation

Technology remains at the core of Intesa Sanpaolo’s strategy. The bank has invested €4.2 billion in digital transformation, hiring over 2,300 IT specialists and migrating 62% of its applications to the cloud.

Isybank, the bank’s digital-only platform, saw a surge in new customers in Q4, surpassing a total of 500,000 new sign-ups. This brought the total isybank customer base close to 900,000, reinforcing its position as a key digital player.

Commitment to Social Impact

Intesa Sanpaolo continues to lead in social impact initiatives, having deployed around €340 million in 2024 alone to combat poverty and reduce inequalities, supported by a dedicated team of 1,000 professionals.

Outlook for 2025 and beyond

The bank expects net income to be well above €9 billion in 2025, maintaining strong and sustainable profitability. Plans include returning over €6 billion in cash dividends, with additional distributions to be determined at year-end.

CEO Carlo Messina’s remarks

Carlo Messina, CEO of Intesa Sanpaolo, remarked on the results:

• “We are over-delivering on our commitments as we enter the final year of our Business Plan. We just delivered our best-ever net income, at €8.7 billion. This rises to €9 billion when excluding non-recurring items and the €900 million in gross income managerial actions taken to strengthen future profitability.”
• “This excellent performance allows us to reward shareholders with €6.1 billion in cash dividends for 2024. Our strong profitability and rock-solid capital position also mean that – subject to shareholders’ approval – in June we will launch a new €2 billion share buyback.”
• “Our 2024 results are marked by our best-ever Insurance income and strong growth in commissions. Costs remained stable, asset quality was top-tier, and customer financial assets increased by €77 billion. We leveraged Q4 profitability to reinforce our buffers and sustain future results, while increasing our net income guidance for 2025 to well above €9 billion.”
• “We continue to invest in technology, with €4.2 billion already deployed, more than 2,300 IT specialists hired, and over 60% of applications already cloud-based. Isybank now has over 500,000 new clients, with a strong acceleration in Q4. This brings the total Isybank customer base to nearly 900,000, giving us significant scale.”
• “Our tech investments are also enabling a generational shift in our workforce. In three years, we will see 9,000 exits, allowing us to attract new talent and enhance efficiency. We are generating significant synergies internally, with no need for acquisitions, and avoiding related execution risks.”
• “Looking ahead, we expect net income in 2025 to be well above €9 billion—a level that is sustainable in the coming years. We will return more than €6 billion in cash dividends and evaluate additional distributions at year-end.”
• “Our well-diversified business model, centered on Wealth Management and Protection, will perform under any interest rate scenario. Strong and sustainable performance allows us to reward shareholders while maintaining a rock-solid capital base and contributing to social impact initiatives.”

Click here for more information on Intesa Sanpaolo’s financial results and strategic outlook.

Contact: international.media@intesasanpaolo.com

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