Intesa Sanpaolo Unveils Ambitious 2026–2029 Strategy

Milan, 2 February – Italy’s leading banking group, Intesa Sanpaolo, has unveiled its new strategic plan for 2026–2029, setting out ambitious financial and operational targets. At the heart of the plan is the goal to increase the bank’s net profit by approximately 25% to €11.5 billion (around $13.6 billion) by 2029, while returning close to €50 billion to shareholders over the same period.

The strategy is structured around three key pillars: cost reduction, expansion of fee-based income, and significant investment in technology and digital innovation. Intesa aims for an annual net income growth rate of 3%, primarily driven by the broadening of fee-generating services such as wealth management, advisory, and digital offerings.

While the bank faces constraints in domestic expansion and a highly competitive landscape in Italy, it has adopted a cautious approach to entering new markets, particularly following its domestic acquisitions in 2020. Intesa has also maintained distance from the wave of banking sector consolidations that swept across Europe last year.

As part of its international expansion, the bank plans to invest around €200 million to extend wealth management services to high-net-worth clients in France, Germany, and Spain between 2026 and 2029.

In terms of recent performance, Intesa reported a net profit of €9.3 billion for the full year 2025, slightly exceeding forecasts. For 2026, the bank anticipates net profits approaching €10 billion. Last year, €6.5 billion of profit was distributed to shareholders as dividends, while €2.3 billion was allocated to share buybacks. Under the new strategy, the bank intends to allocate 95% of net profits annually to shareholders, raising the dividend payout ratio from 70% to 75%, with the remainder devoted to share repurchases. Additionally, from 2027, the bank will consider the possibility of an extra annual distribution.

European bank shares have risen significantly in recent years, bolstered by higher interest rates and shareholder returns through dividends and buybacks.

Intesa also targets a reduction of its cost-to-income ratio from 42.2% in 2025 to 36.8% by 2029, supported by planned efficiencies and technological upgrades. Around €5 billion will be invested in digital and technology enhancements during this period.

The table below summarises Intesa Sanpaolo’s key financial targets and strategic priorities:

With this strategic plan, Intesa Sanpaolo aims to strengthen its competitive position in the European banking sector while ensuring sustainable returns and reinvestment opportunities for its shareholders.