Intesa Sanpaolo Posts Record FY2024 Net Income of €8.666 Billion, Up 12.2%

Intesa Sanpaolo delivered record results, reporting full-year 2024 net income of €8.666 billion on 4 February 2025, an increase of 12.2% from the €7.724 billion recorded a year earlier.

The group's board proposed total cash dividends of €6.1 billion in respect of the 2024 financial year. The group's CET1 capital ratio stood at 13.9% at year-end.

GROSS INCOME AND COST EFFICIENCY

Gross income for the full year reached €13.736 billion, an increase of 13.9% compared with the prior year. The cost/income ratio of 42.7% was, according to the bank, a level among the best in the top tier of European banks.

CAPITAL RETURNS

The distribution proposal, which remains subject to shareholder approval, comprises €3 billion of interim dividends paid in November 2024 and €3.1 billion of remaining dividends proposed for payment in May 2025; a separate €2 billion buyback was also authorised by the ECB.

The European Central Bank began cutting interest rates in June 2024. Intesa Sanpaolo's revenue diversification, with significant contributions from fee-based wealth and insurance businesses less directly sensitive to rate movements than pure net interest income, has been cited by management as a structural buffer against the revenue headwinds that a declining rate environment could present over time.