The Intesa Sanpaolo Group is Italy’s leading banking group, with 10.8 million customers and 5,600 branches in the country. It is also one of the top banking groups in Europe.
The Group was formed in January 2007 following the merger of Sanpaolo IMI and Banca Intesa. Both banks were already key players in the Italian market and had contributed to the consolidation process of the country’s banking industry.
Banca Intesa was the result of a series of integrations completed successfully: in 1998, the merger of Cariplo and Banco Ambrosiano Veneto. In 1999, Banca Commerciale Italiana (BCI), following a Tender Offer, joined the Intesa Group. With the subsequent merger of BCI into Banca Intesa (May 2001), the group took the name IntesaBci. In December 2002, the Shareholders’ Meeting resolved to change the company name to Banca Intesa, effective as of January 1, 2003. On its side, Sanpaolo IMI was formed in 1998 from the merger of Istituto Bancario San Paolo di Torino and IMI (Istituto Mobiliare Italiano). These two banks were highly complementary: Istituto Bancario San Paolo di Torino was specialised in retail lending; while IMI, a public entity founded in 1931 to support the reconstruction of the national industrial system, was a leading business and investment bank. Banco di Napoli and Gruppo Cardine joined the Group respectively in 2000 and 2002.
The first steps toward the merger process of Banca Intesa and Sanpaolo IMI were taken on August 26, 2006, when the Boards of Directors of the two banks approved the guidelines for a merger plan. The plan was then agreed by the Boards on October 12 and ratified by the Extraordinary Shareholders’ Meetings of the two banks on December 1 of the same year.
Today, the Intesa Sanpaolo Group is the leading provider of financial products and services to both households and businesses in Italy, notably of banking intermediation (a 16% market share in customer loans and 17% in customer deposits), bancassurance (23%), pension funds (26%), asset management (26%) and factoring (26%).
The Group also has strategic operations in Central and Eastern Europe, and in Middle Eastern and North African countries. It is among the top players in several countries with 8.3 million customers and a network of approximately 1,600 branches. Through its local subsidiary banks, the Intesa Sanpaolo Group ranks first in Serbia, second in Croatia and Slovakia, third in Albania, fifth in Egypt, Hungary and Bosnia and Herzegovina, and eighth in Slovenia. Moreover, an international network of specialists in support of corporate customers spreads across 29 countries, in particular in the Middle East and North Africa, and in those areas where Italian companies are most active, such as the United States, Russia, China and India.
As at 31 March 2012, the Intesa Sanpaolo Group had total assets of 652,630 million euros, customer loans of 378,050 million euros, direct deposits from banking business of 371,555 million euros, and direct deposits from insurance business and technical reserves of 77,003 million euros.
The Group operates through six business units:
- Banca dei Territori - this division includes the Italian subsidiary banks. It is based on a model that supports and enhances regional brands, upgrades local commercial positioning and strengthens relations with individuals, small businesses, SMEs and non-profit entities. Private banking, bancassurance and industrial credit are also part of this Division.
- Corporate and Investment Banking - this division supports, by taking a medium-long term view, the balanced and sustainable development of corporate and financial institutions, both nationally and internationally. The division acts as a “global partner”, with an in-depth knowledge of corporate strategies and a complete range of services. Its main activities include M&As, structured finance and capital markets carried out through Banca IMI, as well as leasing, factoring and merchant banking. The division is present in 29 countries where it facilitates the cross-border activities of its customers through a specialist network made up of branches, representative offices, and subsidiary banks focused on corporate banking. The division operates in the public finance sector through its subsidiary Banca Infrastrutture Innovazione e Sviluppo which acts as global partner for the public administration, public utilities and the execution of infrastructure, with product specialists and a dedicated branch network.
- International Subsidiary Banks - this division includes the following retail and commercial subsidiaries: Intesa Sanpaolo Bank Albania, Intesa Sanpaolo Banka Bosna i Hercegovina in Bosnia and Herzegovina, Privredna Banka Zagreb in Croatia, the Prague branch of VUB Banka in the Czech Republic, Bank of Alexandria in Egypt, the Athens branch of Intesa Sanpaolo Bank Albania in Greece, CIB Bank in Hungary, Intesa Sanpaolo Bank Romania and Banca CR Firenze Romania, Banca Intesa in the Russian Federation, Banca Intesa Beograd in Serbia, VUB Banka in Slovakia, Banka Koper in Slovenia and Pravex-Bank in Ukraine.
- Eurizon Capital - this company is the leading asset manager in Italy with approximately 137 billion euro of assets under management.
- Banca Fideuram - this company is the leader in Italy in the sector of financial advisors with 4,922 private bankers and 97 domestic branches.
Intesa Sanpaolo is among the top banking groups in the eurozone, with a market capitalisation of 18.7 billion euro and aims at becoming the benchmark for value creation in the European banking system.
The current CEO and MD is Enrico Tommaso Cucchiani.
Editor: Intesa Sanpaolo (March 2012)