About Intesa Sanpaolo S.p.A.

Intesa Sanpaolo S.p.A. (Intesa Sanpaolo) provides various financial products and services. The company is present in Russia and Ukraine through two subsidiaries: Joint-Stock Company Banca Intesa (Banca Intesa Russia), 47% owned by the company and 53% by Intesa Sanpaolo Holding International (Luxembourg). This is a Moscow-based corporate bank, part of the IMI Corporate & Investment Banking Division, which operates with branches. The bank participates in the financing of large national and international Russian projects but also offers a full range of banking services for small and medium-sized enterprises, retail customers and companies. The regional branch network extends from Kaliningrad to Vladivostok. Pravex Bank Joint-Stock Company, 100%-owned by the company. This is a small commercial bank based in Kyiv, part of the International Subsidiary Banks Division, which operates with branches mainly in the Kyiv region. Business Units The company operates through six business segments: Banca dei Territori, IMI Corporate & Investment Banking, International Subsidiary Banks, Asset Management, Private Banking, and Insurance. In addition, there is the Corporate Centre, which is responsible for guidance, coordination and control of the company, as well as for the Treasury and ALM operations. Banca dei Territori segment This segment includes traditional lending and deposit collection operations in Italy and associated financial services. Agribusiness Department The company is serving agriculture and agribusiness. Impact Department The company is serving non-profit organisations. Product Companies Banca 5: Dedicated to proximity services through Mooney points of sale located throughout the country. Prestitalia: A financial intermediary operating in the Italian market of consumer credit, specializing in the salary-backed loans segment. Distribution Branches, including Retail and Business branches, distributed broadly throughout Italy, the Agribusiness branches dedicated to companies operating in agribusiness, and Impact branches dedicated to the non-profit sector. The territorial structure is divided into 14 Governance Centres: Agribusiness, Impact and 12 Regional Governance Centres. In the latter, (to favour the commercial focus and guarantee a better control of the service level) there are three Commercial Managers, specialised for 'commercial territory' (Retail, Exclusive and SME), which report directly to the Regional Director and that coordinate around 300 commercial areas. In 2022, the Isybank Department was established, as part of the strategic initiatives to develop the new Digital Bank, set out in the Business Plan, and the Digital Branch Department, to oversee commercial relations with customers via the telephone channel and other related channels (chat and video calls) and the remote offering. Agreements In 2022, new cooperation agreements were signed with leading industry associations with the shared intention of supporting businesses in tackling the high energy costs: these include the agreements with Confapi, Anita Confindustria, Finco and Ucimu. Agribusiness Department The Agribusiness Department, the company's centre of excellence for agriculture and agrifood sectors, aims to promote the link with local areas and tap the potential of one of Italy's most important production sectors: in agrifood, Italy is in third place in terms of added value among large European countries. The Department avails of branches located throughout Italy, containing specialists, concentrated in the most agricultural areas of the country, at the service of over 76,000 customers. The Agribusiness Department positions itself as the main qualified interlocutor to assist operators in all phases of development, and to support investments to promote new business projects, with specific attention to the criteria of sustainability and the circular economy. The Department's activities contributed to the signing of several important agreements: in March, the company and the Federazione Nazionale Agroalimentare (Agrocepi) signed a memorandum of understanding to offer all of the members support solutions for the recovery and growth of the agrifood sector; in June, the agreement with Coldiretti was renewed and a substantial credit line of 3 billion euro was made available to its member companies to support them in the process of transformation towards the Italian agriculture of the future, in line with the public initiatives, and in particular, the first NRRP tenders dedicated to the agricultural sector; and a new agreement was signed with the Consorzio Tutela del Grana Padano DOP and the Consorzio del Formaggio Parmigiano Reggiano to strengthen access to credit for companies in the dairy supply chain. Due to the success of the revolving pledge, several changes were introduced, ranging from expanding the loans that may be backed by this guarantee to expanding the family of agrifood products that can be pledged. Impact Department The Impact Department is dedicated to managing non-profit customers and coordinating the activation and management of social impact funds created to foster the financial inclusion of individuals, households and non-profit organisations. In particular, the Fund for Impact, with a value of 300 million euro, disburses loans of up to 1.5 billion euro to those with a good plan for life and for work who have difficulty in accessing ordinary credit. This is accompanied by the Solidarity and Development Fund, with a value of over 50 million euro, which enables loans to non-profit organisations with important projects, which would otherwise be excluded from the credit. To acquire new customers, various initiatives were activated, with joint 'Conto-POS' Welcome Packs offered various solutions, alternative to each other, based on the customers' operating requirements. During the year, initiatives and events were also organised for customers in order to present the bank's offering in the support of the energy transition in the non-profit sector, with a specific focus on the Renewable Energy Communities, and to provide information on the opportunities offered by the NRRP tenders for support to the social economy. The bank also provided financial support to non-profit organisations affected by the high energy costs and involved in the NRRP initiatives. The introduction of the RIM (Impact Detector), a qualitative-quantitative questionnaire addressed to non-profit customers, enabled the measurement of the social impact and positive outcomes generated by a portion (about 154 million euro) of the loans approved for the non-profit sector between January and September 2022 for the implementation of 453 impact initiatives. In the area of donations, in 2022 the For Funding platform again confirmed its leadership in Italian crowdfunding in the support of non-profit sector projects, encouraging donations throughout the country for a total of 12.5 million euro. Product Companies In 2019, Banca 5 and SisalPay set up a newco, named Mooney, with the objective of offering banking products and payment and transactional services at merchants located throughout the entire country. The network, which has been fully operational since the beginning of 2020, adds to the offering of products and services of Banca 5 and SisalPay. At the end of 2021, through its subsidiary Banca 5, Intesa Sanpaolo and Enel, through its subsidiary Enel X, signed an agreement to acquire 70% of the share capital of Mooney Group from CVC Capital Partners. In 2022, the activities continued to prepare for the finalisation of the operation, which occurred in mid-July. Specifically, after obtaining the required authorizations, Enel X acquired 50% of the capital of Mooney, while Banca 5, which already held 30%, increased its investment to 50%. Thanks to the partnership between Intesa Sanpaolo and Enel, Mooney will accelerate its growth and development in the sector of proximity services, digital payments, mobility and energy services. As of 31 December 2022, Mooney had around 46,500 points of sale throughout Italy, of which around 40,000 licensed to offer banking services, including withdrawals and credit transfers (reserved to customers of Intesa Sanpaolo). During the year, a series of activities were also undertaken in preparation for the renaming of the company to Isybank, which took place at the beginning of 2023. Prestitalia is the 'product company' of the Intesa Sanpaolo Group for salary-backed loans and advances on employee termination indemnities. A financial company that operates in the consumer credit market, highly specialised in salary-backed loans, it is one of the leading operators in the sector, with an average stock of around 2.1 billion euro. As of 31 December, it disbursed loans totalling 770 million euro through over 35,000 applications finalised. The range of products includes' XME Prestito Pensionati INPS', 'XME Anticipo TFS' (a product reserved to former government employees interested in using all or part of their severance indemnity without waiting the long time periods typical of the public authorities) and 'XME Prestito Cessione del Quinto', which offers a solution for government employees, as well as one reserved for private sector employees. In 2022, the process of streamlining the Network of Agents began, with the voluntary integration within Prestitalia of workers from Agents4You. IMI Corporate & Investment Banking segment This segment includes corporate and transaction banking, investment banking, public finance and capital markets, in Italy and abroad. Distribution In Italy, the IMI Corporate & Investment Banking Division has a total of 25 branches dedicated to corporate customers and public customers. At the international level, it operates in 25 countries in the support of the cross-border operations of its customers through a specialised network of hubs, branches, representative offices and subsidiaries that engage in corporate banking activity. Global Corporate Department The Department develops and manages relationships with Italian and foreign corporates with diversified needs and multinational presence, and with domestic Public Entities. It ensures the provision of a global, integrated offering of products and services by specific economic sector for customers under its remit, integrating traditional commercial banking products and services with those of investment banking and capital markets, pursuing cross-selling of products and services overseen by the IMI Corporate & Investment Banking Division, by other Divisions and by the company's product companies. It avails itself centrally of the commercial action of the Industry units, and locally of the Italian network (Areas) and of the international network of the International Department. The coverage is also completed through two units specifically dedicated to strategic investment banking deals to support industries (Global Strategic Coverage) and geographical areas (Network Origination Coverage). The specialisation by industry includes all industrial sectors: Automotive & Industrials; Basic Materials & Healthcare; Energy; Food & Beverage and Distribution; Infrastructure & Real Estate Partners; Retail and Luxury; Telecom, Media and Technology. A team with specific expertise is dedicated to developing Public Finance customers. International Department The Department ensures the international development of the Division in agreement with the other relationship and product structures, ensures the correct management of operational and commercial activities of the hubs, international branches and representative offices and oversees the management of the international subsidiary banks (Intesa Sanpaolo Bank Luxembourg, Intesa Sanpaolo Bank Ireland, Intesa Sanpaolo Brasil - Banco Multiplo, Banca Intesa - Russia and Intesa Sanpaolo IMI Securities Corp.), ensuring their overall coordination. Global Banking & Sovereign Institutions Department The Department is responsible for commercial relationships with financial institutions on domestic and international markets, with a dedicated service model organised by customer segment (i.e., Banks, Insurance Companies, Asset Managers, Financial Sponsors, Sovereign Funds and Governments). Commercial development activity, which is particularly diversified and innovative, takes the form of proposing integrated solutions that facilitate the cross-selling of Capital Markets, Investment Banking, Commercial Banking and Transaction Banking products. Global Transaction Banking Department The Department is responsible for transaction banking products and services for the company. It develops a wide range of digital products and services to meet customers' investment and working capital optimization needs in Italy and abroad. Global Markets & Investment Banking The scope of this structure includes capital markets, structured finance, M&A advisory and primary market (equity and debt capital markets) supporting the company's customers, including medium-sized enterprises. Moreover, portfolio management and ownership risk are monitored through direct or indirect access to the markets. Global Corporate Department In 2022, the Global Corporate Department confirmed its role as strategic and financial partner to its Italian and international customers, supporting them by organising and participating in a number of financing and investment banking transactions, thanks to its specialised expertise linked to the Industry model and the origination ability of two teams dedicated to developing strategic investment banking and structured finance operations. During the year, the measures continued to support corporate customers to manage the economic and financial consequences of the health emergency and the new geopolitical scenario. The bank intends to continue to play an active role in supporting the revival of the Italian economy, supporting the National Recovery and Resilience Plan, including through development of its production chains, an indispensable driver for Italy and the heart of its economic and productive system. The Group participated in numerous syndicated loans, including those in favour of Alstom, Athenahealth, Fabbrica Italiana Sintetici, Axpo Holding, Open Fiber, UPL, Industrie De Nora, HeidelbergCement, Saipem, IP, Saras, CityFibre, Atlantia, Edizione, Merlin Properties, Candy and Alperia. In 2022, the Department strengthened its coverage on ESG issues, with dedicated resources to offer the best service and support to customers in their sustainability strategies and energy transitions, by offering financial instruments. Due to its specialised expertise on ESG issues, the Group participated in various syndicated loans, including those in favour of ENEL, Teva Pharmaceutical Industries, OVS, El Corte Ingles, Telefonica, Marcegaglia, Pirelli, Start Romagna, Orsero, Aena, Prysmian, ENI, EDP, ERG, CEPSA, Tages, Cogenio and Vena Energy. Numerous bilateral ESG loans were concluded, including those for Iren, Italgas and Came. Attention should also be drawn to support for acquisition financing in important transactions completed during the year, such as the acquisition of Acciai Speciali Terni by Arvedi, of a share of Pluto Train 2 by Global Infrastructure Partners, and of a majority stake in La Doria by Investindustrial and in Atlantia by a consortium made up of Edizione and Blackstone following the takeover bid on the company's shares. The bank participated in project financing transactions, including the financing for the implementation of the first phase of the new Terminal 1 of the John F. Kennedy International ('JFK') Airport, and the financing of Aquila Capital, Open Fiber, Milione, Dunas Transmissao de Energia, Doral and Green Arrow. Regarding M&A, the Group acted, inter alia, as financial advisor in the acquisition of a portfolio of photovoltaic plants of NextEnergy Capital by Tages Capital, the acquisition of a majority share of a portfolio of photovoltaic plants of Acea by Equitix, the acquisition of Performance in Lighting by Gewiss and the merger of several Tuscan utility companies into Alia Servizi Ambientali. In debt capital markets operations, the bank acted as Bookrunner in numerous issues, including APRR, Carnival, Cellnex, Fabbrica Italiana Sintetici, Ford Motor Credit, General Motors Financial, Keurig Dr Pepper, RCI Banque, Stellantis, TotalEnergies, RWE, Var Energy, Electricite De France, Arcelormittal, Iberdrola, Leasys and Estra, and as Placement Agents in the second issue ever of Alia Servizi Ambientali. The bank also successfully completed the placement of 'green' bonds, including those issued by A2A (acting as Global Coordinator), Hera, Iberdrola, Suez, Terna (hybrid), Volkswagen and Ferrovie dello Stato, as well as of 'sustainability-linked' bonds, including those issued by A2A, ENEL, Snam, Webuild (in the latter case, also acting as ESG Structuring Advisor) and Carrefour. In the Equity Capital Markets business, the bank acted, moreover, as Sponsor for the listing of Iveco Group on the Euronext Milan, as part of the spin-off from CNH Industrial, as Coordinating Broker of the takeover bid on shares and dealer manager for the purchase of convertible bonds in the acquisition of Falck Renewables by Infrastructure Investments Fund, as Joint Bookrunner in the capital increase of Nordex, as Coordinating Broker of the takeover bid on the shares of Atlantia and as Joint Global Coordinator in the capital increase of Saipem. International Department The Division's international network is present in 25 countries through wholesale branches (including the hubs), representative offices (in addition to the Brussels office at Group level, reporting to European Regulatory & Public Affairs and in charge of managing relations with supranational regulators), corporate banks (Intesa Sanpaolo Bank Ireland, Intesa Sanpaolo Bank Luxembourg, Intesa Sanpaolo Brasil S.A. and Banca Intesa - Russia), in addition to Intesa Sanpaolo IMI Securities Corporation in New York. International Subsidiary Banks segment The International Subsidiary Banks Division is responsible for the company's activities in foreign markets through commercial banking subsidiaries and associates, mainly active in retail banking. In the bancassurance area, the Master Cooperation Agreement was finalized with a leading insurance group for the distribution of insurance products at 5 banks (in Slovakia, Croatia, Hungary, Serbia and Slovenia), and 4 out of 5 Local Distribution Agreements were signed (in Slovakia, Serbia, Slovenia and Croatia). South-Eastern Europe Hub (SEE HUB): Presence in Croatia, Bosnia-Herzegovina and Slovenia. Central Europe Hub (CE HUB): Presence in Slovakia, Hungary and the Czech Republic. Other Banks: Presence in Albania, Romania, Serbia, Egypt, Ukraine and Moldova. Distribution The company operates branches in 12 countries. Private Banking segment The Private Banking Division serves the top customer segment (Private and High Net Worth Individuals), creating value by offering top products and services. The Division coordinates the operations of Fideuram - Intesa Sanpaolo Private Banking, Intesa Sanpaolo Private Banking, Fideuram Asset Management SGR, IW Private Investments SIM, SIREF Fiduciaria, Fideuram Asset Management (Ireland), Fideuram Bank (Luxembourg), the Swiss banking group Reyl (present in Switzerland, the United Kingdom, Singapore, the United Arab Emirates and Malta) and, from 30 June 2022, Compagnie de Banque Privée Quilvest S.A., a Luxembourg private bank with branches in Belgium. Moreover, with the intention of offering a large, dedicated range of products, availing of digital solutions that will be expanded over time, the new Direct Banking business unit was created to meet the needs of customers that wish to autonomously handle their investments and on-line trading. Fideuram (Italy) Dedicated to the production, management and distribution of financial products and services to high profile customers, using a network of 4,951 Fideuram and Sanpaolo Invest financial advisors. Intesa Sanpaolo Private Banking (Italy) Bank dedicated to private customers (with over 1 million euro in financial assets), providing financial services which are designed to preserve and increase wealth and provide continuity, using a network of 939 in-house private bankers and 108 freelance bankers with agency contracts. IW Private Investments (Italy) Company specializing in financial advisory and planning services for individuals and households, with a distinctive commercial offering in trading. It operates using a network of 557 financial advisors. Reyl & Cie (Switzerland) Swiss bank dedicated to developing international private customers, which operates through a group of companies specializing in wealth management and private banking. It operates using a total network of 52 private bankers. SIREF Fiduciaria (Italy) Company specialized in the provision of fiduciary services. Fideuram Bank (Luxembourg) Luxembourg bank which, following the acquisition of the Wealth Management and Private Banking business line of Intesa Sanpaolo Bank Luxembourg, operates through a network of 8 private bankers. Compagnie de Banque Privée Quilvest (Luxembourg) Luxembourg bank with branches in Belgium, which operates using a total network of 33 private bankers. Fideuram Asset Management (Italy) Company that manages a wide range of mutual funds, individual portfolios and other investment instruments for private and institutional investors. Fideuram Asset Management (Ireland) Company that manages Luxembourg and Italian mutual funds and products designed by the company's insurance companies. Asset Management segment The Asset Management segment pursues the intention of developing the best asset management solutions aimed at the company's customers and its presence on the open market segment through the subsidiary Eurizon Capital SGR and its subsidiaries. Eurizon Capital SGR (Italy) Specialised in active asset management on behalf of both retail customers (mutual funds and portfolio management schemes) and institutional customers, to which it offers a wide range of investment products and services. Epsilon SGR (Italy) Specialised in portfolio management on quantitative bases. It is a 100% subsidiary of Eurizon Capital SGR. Eurizon Capital Real Asset SGR (Italy) Specialised in alternative investments. It is controlled by Eurizon Capital SGR, which holds 51% of the voting right and 20% of the company's share capital, and an investee of Intesa Sanpaolo Vita (40% of capital) and the Poste Italiane Group (40% of the capital). Eurizon Capital S.A. (Luxembourg) The company manages and distributes Luxembourg UCI products aimed at retail and institutional customers and offers a wide range of services dedicated to institutional investors. It specializes in limited tracking error (LTE) management, factor-based and money market products. It is a 100% subsidiary of Eurizon Capital SGR. Eurizon Capital Asia Limited (Hong Kong) A company wholly owned by Eurizon Capital SGR, established to develop consulting activities on financial instruments, portfolio management and distribution in the Asian market. Eurizon AA Slovak asset management company, 100%-owned by Eurizon Capital SGR, which heads up Eurizon Asset Management Hungary and Eurizon Asset Management Croatia d.o.o. (Eastern European asset management hub). It promotes and manages Slovak mutual funds targeted to the local market. Eurizon Asset Management Croatia d.o.o. (Croatia) A Croatian asset management company and wholly owned subsidiary of the Slovak company Eurizon Asset Management Slovakia. It promotes and manages Croatian mutual funds and offers individual portfolio management services to retail and institutional customers. Eurizon Asset Management Hungary (Hungary) A Hungarian asset management company and wholly owned subsidiary of the Slovak company Eurizon Asset Management Slovakia. It promotes and manages Hungarian mutual funds and offers individual portfolio management services to retail and institutional customers. Eurizon SLJ Capital (England) An English company controlled by Eurizon Capital SGR through a 65% interest, which conducts research and provides investment and advisory services. Penghua Fund Management Company Limited (China) Chinese fund manager 49%-owned by Eurizon Capital SGR. Insurance segment This segment includes life and non-life insurance. The Insurance segment includes Intesa Sanpaolo Vita, Intesa Sanpaolo Life, Fideuram Vita, Intesa Sanpaolo Assicura (which absorbed Cargeas Assicurazioni from 1 October 2022) and Intesa Sanpaolo RBM Salute, with the intention of synergically developing the insurance product mix targeting the company's customers. The scope of the Insurance Division also includes Intesa Sanpaolo Insurance Agency. Intesa Sanpaolo Vita Insurance parent company specialized in offering insurance, pension and personal and asset protection services within Banca dei Territori. The company is the sole owner of Intesa Sanpaolo Life, Intesa Sanpaolo Assicura and Intesa Sanpaolo Insurance Agency; and has a 73.8% interest in Intesa Sanpaolo RBM Salute. Lastly, it holds 40% of Eurizon Capital Real Asset SGR, a company operational since 31 December 2019, controlled by Eurizon Capital SGR (Asset Management Division), which holds 51% of the voting rights and 20% of the capital. Intesa Sanpaolo Life Specialized in life insurance products with a higher financial content, such as unit-linked products. Fideuram Vita Specialized in offering insurance, pension and personal and asset protection products in service of the Private Banking Division. Intesa Sanpaolo Assicura Dedicated to the non-life business, it offers customers a wide range of products capable of covering personal injury, damage to vehicles and to the home and loan protection. Intesa Sanpaolo RBM Salute Specialized in the health care business. Intesa Sanpaolo Insurance Agency Agency that performs insurance mediation activities of both life and non-life products. Corporate Centre The Corporate Centre is responsible for guidance, coordination and control of the whole Group, as well as for the NPE Department, Treasury and Strategic ALM. Treasury Services The company's Treasury and Finance includes treasury services in euro and foreign currencies, and the integrated management of liquidity requirements/surpluses, financial risks (ALM) and settlement risks. History Intesa Sanpaolo S.p.A. was founded in 1998.

Country
Industry:
Commercial banks
Founded:
1998
IPO Date:
01/17/1990
ISIN Number:
I_IT0000072618
Address:
Piazza San Carlo, 156, Turin, Turin, 10121, Italy
Phone Number
39 011 5551

Key Executives

CEO:
Messina, Carlo
CFO
Del Punta, Stefano
COO:
Angeletti, Paola