MILAN (ITALPRESS) – The Board of Directors of Intesa Sanpaolo has approved the operating and consolidated results as of December 31, 2024. The results highlight the Group’s ability to generate solid sustainable profitability, with net income of 8.66 billion (+12.2%) compared to about 0.9 billion allocated from pre-tax profit for the year with management actions to further strengthen the future sustainability of the Group’s results, contributing to a 2025 net income forecast improved to well over 9 billion.The year’s solid economic and capital performance translated into significant value creation for all stakeholders, also based on the Group’s strong Esg commitment. Gross current income up 13.9% to 13,736 million, from 12,056 million in 2023.Net operating income up 12.5% over 2023.Net operating income up 7.5% over 2023 (net interest +6.9%, net fee and commission income +9.4%, income from insurance business +4.1%). Operating expenses up 1.3% from 2023. Intesa recorded high efficiency, with cost/income at 42.7%, among the best among major European banks. As for credit quality, at the end of December 2024, impaired loans as a percentage of total loans was 1.2 percent net of adjustments and 2.3 percent gross. About 70 billion in new medium- to long-term credit in 2024, with about 43 billion in Italy, of which about 38 billion is disbursed to households and small and medium-sized enterprises. Net operating income is 27,107 million, up 7.5 percent from 25,227 million in 2023. Operating expenses amounted to 11,570 million, up 1.3 percent from 11,420 million in 2023, reflecting a 2.3 percent increase in personnel expenses and 3.3 percent increase in depreciation and amortization and a 1.8 percent decrease in administrative expenses. Consequently, operating income amounts to 15,537 million, up 12.5 percent from 13,807 million in 2023. The cost/income ratio in 2024 is 42.7 percent, up from 45.3 percent in 2023. The implementation of Intesa Sanpaolo’s 2022-2025 business plan is proceeding at full speed, with a 2025 net profit outlook improved to well over 9 billion.For 2025, the bank expects revenues to grow, operating costs to fall despite investment in technology, low cost of risk. Strong value distribution is expected, with a cash payout ratio of 70 percent of consolidated net income for each year of the business plan, with an increase in dividend per share relative to 2025 compared to the amount relative to 2024. Buyback of 2 billion to start in June 2025 and further distribution for 2025 to be quantified when annual results are approved.(ITALPRESS).-Photo: Intesa Sanpaolo press office-
