Letter to the stakeholders

In 2016, despite an overall scenario marked by instability and uncertainty, Intesa Sanpaolo continued its 2014-2017 Business Plan.
Consolidated results at the end of 2016 reported a significant increase in profitability compared to 2015. Along with a more robust capital strength and risk and liquidity profile, this enabled the company to continue to create value for all stakeholders, starting from its shareholders, with a proposed dividend of 3 billion euro (increasing dividends distributed from 2014 to 2016 to 6.6 billion euro).

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Business model

Strengths

• Very solid financial statements, strengthened during the economic crisis
• Cost / Income ratio among the best in Europe
• Leader in risk management
• Strong market share

• Capital exceeding regulatory requirements
• Surplus liquidity reserves
• Low financial leverage

Strategic priorities

• To be a real-economy bank
• To achieve sustainable profitability
• To be a retail and corporate banking leader in Italy and in certain key markets
• To be a European leader in different high-growth businesses

• To support Italian businesses abroad through our international presence
• To be a simple and innovative bank
• To guarantee customers the best relations in a multi-channel approach

Output / Outcomes

• Remuneration of shareholders
• Medium / long-term credit and credit to households and businesses
• Support for Third Sector social businesses
• Job protection and human resource development
• Development of partnerships with suppliers

• Contribution to the needs of the community by paying taxes
• Improved relations with customers
• Development of a product mix that increasingly meets the real needs of customers
• Optimisation of local presence in Italy and abroad
• Product and service model innovation