Intesa Sanpaolo

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  Intesa Sanpaolo SpA
logo
Country ItalyItaly Italy
Seat Turin
legal form Società per azioni
ISIN IT0000072618
BIC BCITITMMXXX
founding 2007
Website www.intesasanpaolo.com
Business data 2019
Total assets EUR 816.10 billion
Employee 89.102
management
Board Gian Maria Gros-Pietro
Corporate management

Carlo Messina

The Intesa Sanpaolo SpA is one of the largest Italian banks . The Turin- based company is listed on the Borsa Italiana in the FTSE MIB leading index.

history

Intesa Sanpaolo headquarters in Turin

In August 2006 it was announced that Sanpaolo IMI and the Italian Banca Intesa would merge. On January 1, 2007, the second largest credit institute in Italy was created , and it was named Intesa Sanpaolo .

The Banca Intesa was created in 1998 through the merger of the Milanese Sparkasse Cassa di Risparmio delle Provincie Lombarde (CaRiPLo) with the Banco Ambroveneto . In 1999 the traditional Banca Commerciale Italiana was also taken over. Banca Intesa was involved in a number of Italian banks, including the Sparkasse Parma and the Bank for Trento and Bozen . Abroad, Banca Intesa u. a. the Croatian PBZ , the Slovak VÚB , the Serbian Banca Intesa Beograd (the second largest banks in each country), the Hungarian CIB and the Russian KMB Bank .

The new bank is one of the largest institutions in Europe and in 2010 was named one of the safest banks in the world by the US broadcaster CNBC . With a market capitalization of around 45 billion euros (2016), Intesa Sanpaolo ranks among the 50 largest companies in Europe and is currently represented in the EuroStoxx 50 with a weighting of around 1.22%.

Group structure

After the merger, Intesa Sanpaolo will operate with six divisions:

  1. Banca dei Territori - retail and private banking customers as well as SMEs and non-profit organizations are served in Italy.
  2. Corporate and Investment Banking - Large corporate customers and financial institutions are served worldwide. The area covers M&A, structured finance and capital markets activities. The investment banking business is bundled under Banca IMI, an independent subsidiary, and has locations in 29 countries worldwide.
  3. International Subsidiary Banks - Intesa Sanpaolo's retail business in CEE and MENA.
  4. Public Finance - The subsidiary "Banca Infrastrutture Innovazione e Sviluppo" operates the group's public finance business and finances a.o. a. public infrastructure projects.
  5. Eurizon Capital - the leading asset manager in Italy with around 140 billion euros in AuM (2010).
  6. Banca Fideuram - is the leading financial advisor in Italy with over 4000 private bankers and 97 branches (2010).

The group's "Corporate Center" is another non-operational (overhead) unit of the group. a. Treasuy and Proprietary Trading are located.

International presence and system relevance

Although Intesa Sanpaolo is one of the few large institutes that is currently not included on the G-SIFI list of the G20, the bank has a notable presence in all the major financial centers of the world and also in other, selective locations and a. in Eastern Europe and Africa.

In Europe, the company has branches in London (European Hub), Amsterdam, Frankfurt / Main, Madrid and Paris. Representative offices exist u. a. in Athens, Brussels, Istanbul, Moscow, Warsaw and Stockholm.

In Asia, the bank has branches in Dubai, Hong Kong (Asian Hub), Shanghai, Singapore and Tokyo and representative offices in Beijing, Beirut, Ho Chi Minh City, Mumbai, Seoul and Tehran.

The bank has four branches in America: branches in New York and George Town and representative offices in Santiago and Sao Paulo.

In Africa, it holds the majority stake - with 70 percent - in the Bank of Alexandria in Egypt .

Financial crisis

Intesa Sanpaolo got through the financial and debt crisis from 2007 comparatively well . This is also thanks to their conservative focus on the retail business in Italy and on the customer-centric international corporate banking and investment banking. In November 2011, the bank published a nine-month result (net income) of around EUR 1.9 billion and a result for the third quarter of around EUR 500 million. Although the result was positively influenced by tax effects, it reflects the operational strength of the institute.

Nonetheless, Intesa is the bank with the largest sovereign debt exposure in Italy. Write-downs on Italian government bonds had a correspondingly negative impact on the result. Notwithstanding this, there was no increased capital requirement even after the stress tests by the European Banking Authority. If the (especially Italian) government bonds were written down to market value, the core tier one ratio of Intesa Sanpaolo would still be over 9% - the EBA's target value. Applying the nominal value in the balance sheet, the rate is 10.2%, which makes Intesa one of the most solid banks in Europe. Many other major European banks, including the domestic competitor Unicredit as well as Deutsche Bank and Commerzbank, require fresh equity of around EUR 115 billion by mid-2012 according to EBA guidelines.

Change of leadership

When a technocratic government under Mario Monti took over government affairs in Italy , a change in leadership at Intesa Sanpaolo became necessary. Long-time CEO and Managing Director Corrado Passera was appointed super minister for industry and infrastructure in the Monti cabinet . After a few days, Intesa was able to present a successor. Enrico Cucchiani, previously responsible for Allianz's European and South American business, took up the post as CEO on December 22, 2011. Analysts assume that the conservative strategy of the institute will be retained under the new head, but that expansion abroad will be promoted.

See also

Web links

Commons : Intesa Sanpaolo  - collection of images, videos and audio files

Individual evidence

  1. ↑ Entry in the BIC directory at SWIFT
  2. ↑ Annual Report 2019 . Intesa Sanpaolo SpA . Retrieved August 5, 2020.
  3. ↑ group.intesasanpaolo.com - History
  4. ↑ Archive link ( Memento of the original from October 23, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / www.cnbc.com
  5. ↑ a b http://www.group.intesasanpaolo.com/scriptIsir0/si09/salastampa/eng_biografie_new.jsp
  6. ↑ http://www.breakingviews.com/global-bank-capital-rules-add-%E2%80%9Cg-sifi-envy%E2%80%9D-to-mix/1620988.article
  7. ↑ http://www.theasianbanker.com/resultwatch/9151  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Dead Link / www.theasianbanker.com  
  8. ↑ http://www.group.intesasanpaolo.com/scriptIsir0/si09/contentData/view/content-ref?id=CNT-04-0000000082162
  9. ↑ http://online.wsj.com/article/BT-CO-20111208-712003.html
  10. ↑ http://www.daf.fm/news/intesa-sanpaolo-allianz-manager-cucchiani-wird-neuer-vorstandschef-7988418.html  ( page no longer available , search in web archives )  Info: The link was automatically defective marked. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Toter Link / www.daf.fm  

Coordinates: 45 ° 4 ′ 6.1 "  N , 7 ° 40 ′ 56.6"  E