Intesa Sanpaolo reports record net income of 8.7 billion euro, up 12 percent in 2024

Intesa Sanpaolo has posted its best-ever financial results, closing 2024 with a net income of 8.7 billion euro, up 12 percent compared to 2023. This enables the bank to distribute 6.1 billion euro in cash dividends to shareholders for 2024. Additionally, subject to shareholder approval, a new 2 billion euro share buyback will be launched in June.

Intesa Sanpaolo has raised its net income guidance for 2025 to above 9 billion euro.

Intesa Sanpaolo recorded 9 percent growth in commissions, with acceleration in Q4. Insurance income reached an all-time high, increasing by 4 percent year-over-year.

The bank has invested 4.2 billion euro in digital transformation, hiring over 2,300 IT specialists and migrating 62 percent of its applications to the cloud.

Carlo Messina, CEO of Intesa Sanpaolo, on the results:

• “We are over-delivering on our commitments as we enter the final year of our Business Plan. We just delivered our best-ever net income, at 8.7 billion euro. This rises to 9 billion euro when excluding non-recurring items and the €900 million in gross income managerial actions taken to strengthen future profitability.”
• “This excellent performance allows us to reward shareholders with 6.1 billion euro in cash dividends for 2024. Our strong profitability and rock-solid capital position also mean that – subject to shareholders’ approval – in June we will launch a new 2 billion euro share buyback.”
• “Our 2024 results are marked by our best-ever Insurance income and strong growth in commissions. Costs remained stable, asset quality was top-tier, and customer financial assets increased by 77 billion euro. We leveraged Q4 profitability to reinforce our buffers and sustain future results, while increasing our net income guidance for 2025 to well above 9 billion euro.”
• “We continue to invest in technology, with 4.2 billion euro already deployed, more than 2,300 IT specialists hired, and over 60 percent of applications already cloud-based. Isybank now has over 500,000 new clients, with a strong acceleration in Q4. This brings the total Isybank customer base to nearly 900,000, giving us significant scale.”
• “Our tech investments are also enabling a generational shift in our workforce. In three years, we will see 9,000 exits, allowing us to attract new talent and enhance efficiency. We are generating significant synergies internally, with no need for acquisitions, and avoiding related execution risks.”
• “Looking ahead, we expect net income in 2025 to be well above 9 billion euro — a level that is sustainable in the coming years. We will return more than 6 billion euro in cash dividends and evaluate additional distributions at year-end.”