INTESA SANPAOLO S.P.A.

Intesa Sanpaolo presents its 2026–2029 Business Plan: scaling a proven model with sustainable profitability and strong capital returns

MILAN, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Intesa Sanpaolo unveiled its 2026–2029 Business Plan, setting out a strategy built on businesses already in place, investments already made and a proven operating model.

The Plan targets a sustainable ROE >20%, confirms the Group’s Zero-NPL profile and is underpinned by a technology- and fee-driven business model. It is designed to be delivered with no execution risk, supported by Intesa Sanpaolo’s long-standing ability to extract intragroup synergies. Over the 2025–2029 period, the Group expects to return ~€50 billion of capital to shareholders, while maintaining a rock-solid capital base and a very low risk profile.

A strategy built on strength and resilience

Intesa Sanpaolo operates a fully integrated Wealth Management, Protection and Advisory platform built on fully owned product factories and distribution networks under full strategic control.

The Group expects to deliver a net increase of 2.5 million customers over the plan period, supported by a comprehensive digital offering and the expansion of advisory capabilities in Italy and abroad.

Italy and International Banks: growth through scale and synergies

In Italy, the Business Plan foresees the continued development of advisory networks, including the scale-up of the Global Advisors network within the Banca dei Territori Division, which is set to become Italy’s third-largest financial advisory network. Fideuram, part of Intesa Sanpaolo, will remain the market leader.

Outside Italy, the International Banks Division is positioned as an important driver of Group growth. The Plan envisages the export of the proven Italian business model to the Group’s international subsidiaries, supported by enhanced advisory capabilities, technology and deeper synergies with other Group Divisions. By 2029, a Fideuram-style advisory network will be established within the International Banks Division, comprising around 1,200 advisors.

European optionality: isywealth Europe

The Plan also introduces isywealth Europe as a new strategic option for mid-term growth. Leveraging Intesa Sanpaolo’s leadership in Wealth Management, significant technology investments and existing branch presence, the Group sees the opportunity to become a challenger in key European markets including France, Germany and Spain. The initiative combines digital capabilities with the development of a sizeable advisory network, while leveraging fully owned product factories and selected partnerships with global leaders. 

Financial targets and capital returns

By 2029, Intesa Sanpaolo targets net income above €11.5 billion, with a ROE of 22% and a ROTE of 27%. Absolute costs are expected to decline by 1.8% between 2025 and 2029, while revenues are projected to grow at 3% CAGR. Customer Financial Assets are expected to reach approximately €1.7 trillion, while the CET1 ratio will remain above 12.5%. Cost of risk is expected to remain in the range of 25–30 bp.

Over the 2025–2029 period, the Group expects to deliver capital returns of ~€50 billion, with a cash dividend payout ratio of 75% for the plan period and share buybacks representing around 20% of total distributions.

Technology, sustainability and stakeholders

Technology is a key enabler. isytech, Intesa Sanpaolo’s cloud-native technology platform is being progressively rolled out across the Group, with 100% of applications expected to operate in the cloud by 2029. Artificial Intelligence will further support productivity, operational efficiency, risk management and internal controls across core processes.

The Business Plan is designed to generate benefits across all stakeholders. Over the four-year period, Intesa Sanpaolo expects to contribute approximately €500 billion to the real economy, including more than €370 billion in new medium/long-term lending. Around 30% will be allocated to sustainable financing, alongside an additional €1 billion dedicated to social impact initiatives. The Group also confirms its climate commitments.

Contact: international.media@intesasanpaolo.com

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