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Intesa Sanpaolo: consolidated financial report for the period ended 31 December, 2017

7  February, 2018, Turin, Milan, Moscow. At a meeting on 6 February, the Board of Directors of Intesa Sanpaolo issued a consolidated financial report for the year ended 31 December 2017.

At the end of 2017, the Intesa Sanpaolo 2014-2017 Business Plan was delivered, enabling the Group to create value for all stakeholders and contribute more than 250 billion euros to the economy over the four years. The significant increase in gross revenue in 2017 reflected the twin strengths of Intesa Sanpaolo’s business model: revenue generation enhanced by fee growth, and high efficiency, as well as improved credit quality. Intesa Sanpaolo delivered 2017 results consistent with the commitment to distributing cash dividends of 3,4 billion euros in 2017 and 10 billion euros in the period 2014-2017.

In the fourth quarter of 2017, the Group worked in accordance with the Business Plan.

Operating income for the 4th quarter of 2017 amounted to  4,543 billion euros, an increase of 11,4% , compared to the 3rd quarter of 2017, and in relation to the 2017 annual result , it amounted to 17,177 billion euros, an increase of 1, 2% compared to 2016.

Operating costs for the 4th quarter of 2017 amounted to 2,403 billion euros, increased 13, 2 % compared to the 3rd quarter of 2017, and in relation to the 2017 annual result, it amounted to 8,739 billion euros, increased 0.4% compared to 2016. 

Operating margin for the 4th quarter of 2017 amounted to 2,140 billion euros, increased 9,5% compared to the 3rd quarter of 2017, and in relation to the 2017 annual result, it amounted to 8,438 billion euros, increased 2% compared to 2016. 

Gross income for the 4th quarter of 2017 amounted to 1,696 billion euros against  1,356 billion euros in the 3rd quarter of 2017, and in relation to the 2017 annual result, it amounted to  6,216 billion euros against  5,450 billion euros in 2016, excluding the government fee1

Net income for the 4th quarter of 2017 amounted to 1,344 billion euros, compared to 731 million euros in the 3rd quarter of 2017, and in relation to the 2017 annual result, it amounted to 3,813 billion euros, compared to 3,111 billion euros in 2016, excluding the governmental fee1.

Common equity ratio pro-forma after proposed dividends amounted in 2017:

  • 14% pro-forma fully loaded, 13% after IFRS 9 impact;
  • 13, 3% phased in, 13% taking into account the IFRS 9 impact and the transitional arrangements for 2018.

As of December 31, 2017, the network of the Intesa Sanpaolo Group consisted of 5 843 branches, out of which 4 694 were in Italy and 1 149 abroad. The total number of employees is 96 892 people.


1 Government tax-free cash payment, the offsetting impact on capital ratios during the acquisition of Banca Popolare di Vicenza and Veneto Banca.

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