Increased Profits Reported by Intesa: Earnings Reach 2.6 Billion
Intesa Sanpaolo Soars Again, Pledges Boosted Dividends and Sustainable Growth
It's time to rejoice, folks! Intesa Sanpaolo, under the guidance of CEO Carlo Messina, is back in the headlines with its impressive Q1 performance. The bank has announced a 13.6% surge in net profit to a whopping €2.61 billion—a figure that leaves analysts scratching their heads in astonishment.
But that's not all. Intesa Sanpaolo is confidently eyeing a net result of €9 billion by year's end, solidifying its commitment to shareholders and investors. The bank is planning a significant value distribution, with an intend to pay out 70% of the consolidated net profit for each year of the business plan. This promise includes a boost in the 2025 dividend per share compared to 2024.
Intrigued? Here's a sneak peek into what makes Intesa Sanpaolo tick. The bank's net operating income saw a 0.5% growth, thanks to a 7% increase in net fees and a 1.5% rise in the insurance business result. Additionally, the bank boasts a hefty increase in the net result of financial activities at fair value, which effectively balanced the decline in net interest income.
NPLs are next on the agenda. Expect Intesa Sanpaolo's NPL ratio to hover around 1.2%. On the geopolitical front, the bank's exposure to Russia has substantially decreased by 90% since June 2022, standing at roughly €3.3 billion, or just 0.1% of the bank's total client exposure.
But what about the future? Intesa Sanpaolo is determined to lead in Environmental, Social, and Governance (ESG) matters. In line with its 2022-2025 Business Plan, the bank plans to disburse €3 billion in green mortgages by 2025, part of a €12 billion 2022-2025 target. Additionally, the bank is allocated €500 million to aid individuals in need and a whopping €115 billion for society and green transition.
Moreover, Intesa Sanpaolo is striving for a 16% reduction in financed emissions in high-emission sectors by 2024, with the ultimate goal of achieving carbon neutrality in operations by 2030. Shareholders can look forward to the bank's commitment to voluntary sustainability reporting in April 2025.
Lastly, keep an eye out for elections in the bank's leadership and the approval of the 2025 Annual Incentive Plan, tied to financial instruments. This move underscores Intesa Sanpaolo's focus on performance-based compensation. So, invest with confidence, folks! Intesa Sanpaolo is charting a sustainable and prosperous course for the future.
- Intesa Sanpaolo, under the leadership of CEO Carlo Messina, aims to distribute a significant value to shareholders and investors, planning to pay out 70% of the consolidated net profit for each year of the business plan, including a boost in the 2025 dividend per share compared to 2024.
- The bank's net operating income saw a 0.5% growth, thanks to a 7% increase in net fees and a 1.5% rise in the insurance business result, with a net result of financial activities at fair value also increasing significantly.
- Intesa Sanpaolo has set ambitious goals in the field of Environmental, Social, and Governance (ESG) matters, planning to disburse €3 billion in green mortgages by 2025 and allocating €115 billion for society and green transition.
- The bank is also committed to reducing financed emissions in high-emission sectors by 16% by 2024 and achieving carbon neutrality in operations by 2030.
- Shareholders can look forward to elections in the bank's leadership and the approval of the 2025 Annual Incentive Plan, tied to financial instruments, underscoring Intesa Sanpaolo's focus on performance-based compensation.
