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Intesa Sanpaolo: the consolidated results for the year ended 31 December 2018

6 February 2019, Turin, Milan, Moscow. At its meeting on February, 5, the Board of Directors of Intesa Sanpaolo approved both parent company and consolidated results for the year ended 31 December 2018.

Results for 2018 reflect the Group’s sustainable profitability, deriving from a solid capital base and a strong liquidity position and from a resilient and well-diversified business model. Results for 2018 show that the Group is firmly on track to deliver on its targets.

Operating income in Q4 2018 was €4,190M (-1,9% versus Q3 2018), and in 2018 was €17,875M (+0,2% versus 2017).

Operating costs in Q4 2018 were €2,554M (+10,8% versus Q3 2018 года), and in 2018 were €9,470M (-3,6% versus 2017).

Operating margin in Q4 2018 was €1,636M (-16,7% versus Q3 2018), and in 2018 was €8,405M (+4,8% versus 2017).

Gross income in Q4 2018 was €1,374M versus €1,421M in Q3 2018, and in 2018 was €6,348M versus €5,718M in 2017.

Net income in Q4 2018 was €1,038M versus €833M in Q3 2018, and in 2018 was €4,050M versus €3,816M in 2017.

Capital ratios: common equity tier 1 ratio after proposed dividends:

•  13,6% pro-forma fully loaded;

•  13,5% phased in.

As at 31 December 2018, the Intesa Sanpaolo Group’s operating structure had a total network of 5,302 branches, consisting of 4,217 branches in Italy and 1,085 abroad, and employed 92,117 people.

“We are very pleased with the results achieved in 2018: in the first year of the new Business Plan, Intesa Sanpaolo has again confirmed its ability to deliver on all its objectives, even in a more complex operating environment than expected, Carlo Messina, CEO of Intesa Sanpaolo said. We will propose to the Shareholders' Meeting the distribution of a total dividend amount of €3.4 billion, with a payout ratio of 85%. The ability to remunerate our shareholders significantly remains a priority”.

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