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MILAN, May 08, 2026 (GLOBE NEWSWIRE) — Intesa Sanpaolo delivered net income of €2.8 billion in the first quarter of 2026, the best quarterly result in the Bank’s history (+6% vs. Q1 2025).
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Q1 operating income reached a record €7.2 billion, driven by balanced growth across net interest income, commissions, insurance activities and trading. Net fees and commissions recorded the best first quarter ever, while insurance income reached record levels, both up 3% year-on-year. Operating costs declined by 0.7%.
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Net income guidance for 2026 is confirmed at around €10 billion. Together, first-quarter revenue growth — driven by fees and commissions and insurance income — along with lower costs and provisions and a CET1 ratio above 13% underline Intesa Sanpaolo’s low risk profile, solid outlook and sustainable profitability.
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Wealth Management: a strategic growth driver
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With over €1.4 trillion in customer financial assets, Intesa Sanpaolo further strengthens its leadership in Wealth Management, Protection & Advisory. Customer financial assets grew by €64 billion over the past twelve months, reflecting the strength of the Group’s advisory model and continued customer confidence.
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The Group’s business model — unique in Europe — is built on an integrated Wealth Management, Protection & Advisory platform, with a sector-leading contribution from fees and insurance activities to revenues.
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In its 2026–2029 Business Plan, the Group aims to further reinforce this leadership through growth in Private Banking, expansion of its advisory network and enhancement of its digital and international offerings.
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Revenues and profitability: the strength of a well-diversified business model
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Operating income reached a record €7.2 billion, up 5.3% year-on-year.
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Net interest income (€3.6 billion) increased slightly despite lower interest rates, while growth was driven by fees and commissions (€2.5 billion), insurance income (€476 million), and a strong contribution from profits on financial assets (€505 million). The revenue mix confirms a well-diversified and resilient business model.
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Operating margin amounted to €4.6 billion and net income to €2.8 billion, marking the best quarterly result ever recorded by Intesa Sanpaolo. ROE of 21% and ROTE of 25% underline best-in-class profitability.
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Operating efficiency: lowest-ever Cost/Income ratio, best-in-class in Europe
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The cost/income ratio stood at 35.9% in Q1, the lowest ever and among the best in the European banking sector.
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Operating costs declined 0.7% to €2.6 billion, reflecting rigorous cost discipline despite ongoing investments in technology and innovation and supporting structurally high efficiency. Since 2022, Intesa Sanpaolo has invested around €5.7 billion in its tech transformation.
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