Intesa Sanpaolo Group has announced robust financial results for the first nine months of 2024, marking a net profit of €7.2 billion. The bank recorded €2.4 billion in net profit in the third quarter alone, highlighting its sustained financial growth and commitment to shareholder returns. This performance strengthens Intesa Sanpaolo’s position among Europe’s leading banks by market value.

The bank’s CEO, Carlo Messina, disclosed that Intesa Sanpaolo is on track to surpass €8.5 billion in net profit by the end of 2024, raising its 2025 target to approximately €9 billion. This projection underscores the bank’s strategy to drive organic growth, supported by advanced wealth management, technological investments, and a diversified business model that has proven resilient amid fluctuating interest rates.

Significant shareholder returns remain central to Intesa Sanpaolo’s strategy, with €5 billion in dividends accumulated so far in 2024. Of this, €3 billion will be distributed as an interim dividend in November, reinforcing the bank’s commitment to consistent shareholder value creation.

The bank also reported a CET1 ratio of 13.9% as of September 30, underscoring its robust capital base and potential for further shareholder distributions. Customer deposits reached €1.4 trillion, reflecting an increase of over €135 billion from the previous year. Intesa Sanpaolo’s approach to sustainable finance continues to shape its role in the European banking sector, with nearly €63 billion directed towards green and circular economy initiatives since 2021.

Additionally, the group’s cost-to-income ratio has reached a historic low of 39.1%, a testament to disciplined cost management and technological advancement. With €3.5 billion invested in IT and a dedicated team of 2,250 IT professionals, Intesa Sanpaolo aims to maintain its leadership in digital banking innovations across Europe.

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