Annual Report 2023
This document is an additional version of the official version compliant with Delegated Regulation (EU) 2019/815 of the European Commission (ESEF Regulation - European Single Electronic Format) published on the website at group.intesasanpaolo.com.
This is an English translation of the original Italian document "Bilanci 2023". In cases of conflict between the English language document and the Italian document, the interpretation of the Italian language document prevails. The Italian original is available on group.intesasanpaolo.com.
This document contains certain forward-looking statements, projections, objectives, estimates and forecasts reflecting the Intesa Sanpaolo management's current views with respect to certain future events. Forward-looking statements, projections, objectives, estimates and forecasts are generally identifiable by the use of the words "may," "will," "should," "plan," "expect," "anticipate," "estimate," "believe," "intend," "project," "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts, including, without limitation, those regarding Intesa Sanpaolo's future financial position and results of operations, strategy, plans, objectives, goals and targets and future developments in the markets where Intesa Sanpaolo participates or is seeking to participate.
Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements as a prediction of actual results. The Intesa Sanpaolo Group's ability to achieve its projected objectives or results is dependent on many factors which are outside management's control. Actual results may differ materially from (and be more negative than) those projected or implied in the forward-looking statements. Such forward- looking information involves risks and uncertainties that could significantly affect expected results and is based on certain key assumptions.
All forward-looking statements included herein are based on information available to Intesa Sanpaolo as of the date of approval of this document. Intesa Sanpaolo undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law. All subsequent written and oral forward-looking statements attributable to Intesa Sanpaolo or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.
Ordinary Shareholders' Meeting
of 24 April 2024
Report and consolidated financial statements of the Intesa Sanpaolo Group 2023
Report and Parent Company's financial statements 2023
Intesa Sanpaolo S.p.A. Registered Office: Piazza S. Carlo, 156 10121 Torino Italy Secondary Registered Office: Via Monte di Pietà, 8 20121 Milano Italy Share Capital Euro 10,368,870,930.08 Torino Company Register and Fiscal Code No. 00799960158 "Intesa Sanpaolo" VAT Group representative Vat Code No. 11991500015 (IT11991500015) Included in the National Register of Banks No. 5361 ABI Code 3069.2 Member of the National Interbank Deposit Guarantee Fund and of the National Guarantee Fund and Parent Company of the banking group "Intesa Sanpaolo" included in the National Register of Banking Groups
Contents
The Intesa Sanpaolo Group | 7 |
Board of Directors, Manager responsible for preparing the Company's financial reports and | 11 |
Independent Auditors | |
Letter from the Chair | 13 |
INTESA SANPAOLO GROUP REPORT ON OPERATIONS AND
CONSOLIDATED FINANCIAL STATEMENTS
Introduction | 17 |
REPORT ON OPERATIONS | |
Overview of 2023 | |
Income statement figures and Alternative Performance Measures | 22 |
Balance sheet figures and Alternative Performance Measures | 24 |
Alternative Performance Measures and other measures | 25 |
Overview of 2023 | 28 |
The macroeconomic context and the banking system | 65 |
Economic results and balance sheet aggregates | 71 |
Breakdown of consolidated results by business area and geographical area | 111 |
Corporate Governance and remuneration policies | 147 |
Intesa Sanpaolo shares | 163 |
Alternative Performance Measures and Other information | |
Alternative Performance Measures | 171 |
Other information | 176 |
Forecast for 2024 | 177 |
INTESA SANPAOLO GROUP CONSOLIDATED FINANCIAL STATEMENTS | |
Consolidated financial statements | |
Consolidated balance sheet | 182 |
Consolidated income statement | 184 |
Statement of consolidated comprehensive income | 185 |
Changes in consolidated shareholders' equity | 186 |
Consolidated statement of cash flows | 188 |
Notes to the consolidated financial statements | |
Part A - Accounting policies | 191 |
Part B - Information on the consolidated balance sheet | 289 |
Part C - Information on the consolidated income statement | 397 |
Part D - Consolidated comprehensive income | 426 |
Part E - Information on risks and relative hedging policies | 427 |
Part F - Information on consolidated capital | 592 |
Part G - Business combinations | 596 |
Part H - Information on compensation and transactions with related parties | 600 |
Part I - Share-based payments | 606 |
Part L - Segment reporting | 610 |
Part M - Disclosure of leases | 614 |
5
Contents
Certification of the Consolidated financial statements pursuant to Art. 154 bis of | 619 |
Legislative Decree 58/1998 | |
Independent Auditors' Report on the Consolidated financial statements | 621 |
Attachments to the Consolidated financial statements | 631 |
REPORT AND PARENT COMPANY'S FINANCIAL STATEMENTS
REPORT ON OPERATIONS | |
Financial highlights, Alternative Performance Measures and other measures | 668 |
The Parent Company Intesa Sanpaolo results | 672 |
Other information | 682 |
Forecast for 2024 | 683 |
Proposals to the Shareholders' Meeting | 685 |
PARENT COMPANY'S FINANCIAL STATEMENTS | |
Financial statements | |
Balance sheet | 692 |
Income statement | 694 |
Statement of comprehensive income | 695 |
Changes in shareholders' equity | 696 |
Statement of cash flows | 698 |
Notes to the Parent Company's financial statements | |
Part A - Accounting policies | 701 |
Part B - Information on the Parent Company's balance sheet | 761 |
Part C - Information on the Parent Company's income statement | 816 |
Part D - Comprehensive income | 833 |
Part E - Information on risks and relative hedging policies | 834 |
Part F - Information on capital | 886 |
Part G - Business combinations | 889 |
Part H - Information on compensation and transactions with related parties | 890 |
Part I - Share-based payments | 897 |
Part L - Segment reporting | 901 |
Part M - Disclosure of leases | 902 |
Certification of the Parent Company's financial statements pursuant to art. 154 bis of | 907 |
Legislative Decree 58/1998 | |
Independent Auditors' Report on the Parent Company's financial statements | 909 |
Attachments to the financial statements | 919 |
Contacts | 945 |
Financial calendar | 949 |
6
THE INTESA SANPAOLO GROUP
7
The Intesa Sanpaolo Group: presence in Italy
Banks
NORTH WEST
Branches
1,070
NORTH EAST
Branches
702
CENTRE
Branches
715
SOUTH
Branches
623
ISLANDS
Branches
213
Figures as at 31 December 2023
Product Companies1
Bancassurance and Pension Funds | Consumer Credit 2 | ||||||
Asset Management | Fiduciary Services |
- Factoring and Leasing activities are carried out directly by Intesa Sanpaolo S.p.A., the Parent Company
- Consumer Credit activities are also carried out directly by Intesa Sanpaolo S.p.A., the Parent Company
8
Attachments
- Original Link
- Original Document
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Disclaimer
Intesa Sanpaolo S.p.A. published this content on 24 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 April 2024 15:02:41 UTC.