Cash flow INT SANPAOLO RISP Borsa Italiana

Stocks

ISPR

Banks

Delayed Borsa Italiana			5-day change	1st Jan Change
- ^EUR	-.--%		-3.84%	-

08-28	A listless week for the MIB: Nexi shines, Leonardo slides	AN
08-28	Buying across Europe, Lottomatica goes all-in on the MIB	AN

297560eb278bb93e65cf61e32b389e7._tHWmUHUTW_cRAgGymLzKXegdwVECIG44KAV-xIKTa8.mYKz2zmueizlNFposwSbbTHyOkglfvb5j9lkrFhaeu62p-P6Oa4kFa0lZw

Published financial data: INT SANPAOLO RISP

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Interest Income On Loans	10.47B	13.23B	32.52B	34.6B	27.76B
Interest Income On Investments	161M	225M	660M	800M	1.09B
Interest Income, Total	10.63B	13.46B	33.18B	35.4B	28.85B
Interest On Deposits	2.48B	3.55B	15.59B	16.51B	10.45B
Interest Expense, Total	2.48B	3.55B	15.59B	16.51B	10.45B
Net Interest Income	8.15B	9.91B	17.6B	18.89B	18.4B
Income From Trading Activities	503M	-149M	513M	493M	1.02B
Gain (Loss) on Sale of Loans	201M	167M	-58M	50M	208M
Gain (Loss) on Sale of Invest. & Securities - (Rev)	5.72B	1.72B	2.03B	2.64B	2.04B
Total Other Non Interest Income	6.35B	9.4B	4.43B	4.44B	5.41B
Non Interest Income, Total	12.78B	11.14B	6.92B	7.62B	8.68B
Revenues Before Provison For Loan Losses	20.93B	21.05B	24.52B	26.51B	27.09B
Provision For Loan Losses	2.81B	2.58B	1.36B	1.13B	1.77B
Total Revenues	18.12B	18.47B	23.16B	25.38B	25.32B
Salaries And Other Employee Benefits	6.59B	6.71B	6.59B	6.77B	6.62B
Amort. of Goodwill & Intang. Assets	786M	858M	808M	864M	917M
Occupancy Expense	617M	636M	605M	583M	529M
Selling General & Admin Expenses, Total	4.94B	4.87B	4.83B	3.31B	3.09B
(Income) Loss on Equity Invest.	-138M	-232M	-163M	32M	269M
Total Other Non Interest Expense	-613M	-589M	-592M	728M	462M
Non Interest Expense, Total	12.18B	12.25B	12.08B	12.29B	11.89B
EBT, Excl. Unusual Items	5.94B	6.22B	11.08B	13.09B	13.43B
Restructuring Charges	-378M	-169M	-307M	-832M	-492M
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Asset Writedown	-65M	-76M	-63M	-67M	-79M
Insurance Settlements	-	-	-	-	-
Legal Settlements	-221M	-	-	-92M	-83M
Other Unusual Items	-93M	28M	36M	-41M	-128M
EBT, Incl. Unusual Items	5.18B	6.01B	10.75B	12.06B	12.64B
Income Tax Expense	1.14B	1.63B	2.99B	3.4B	3.3B
Earnings From Continuing Operations	4.04B	4.38B	7.75B	8.66B	9.34B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	4.04B	4.38B	7.75B	8.66B	9.34B
Minority Interest	142M	-23M	-28M	7M	-20M
Net Income - (IS)	4.18B	4.35B	7.72B	8.67B	9.32B
Net Income to Common Incl Extra Items	4.18B	4.35B	7.72B	8.67B	9.32B
Net Income to Common Excl. Extra Items	4.18B	4.35B	7.72B	8.67B	9.32B
Per Share Items
Net EPS - Basic	0.22	0.23	0.42	0.48	0.53
Basic EPS - Continuing Operations	0.22	0.23	0.42	0.48	0.53
Basic Weighted Average Shares Outstanding	19.38B	19.32B	18.37B	18.02B	17.58B
Net EPS - Diluted	0.22	0.23	0.42	0.48	0.53
Diluted EPS - Continuing Operations	0.22	0.23	0.42	0.48	0.53
Diluted Weighted Average Shares Outstanding	19.38B	19.32B	18.37B	18.02B	17.58B
Normalized Basic EPS	0.2	0.2	0.38	0.45	0.48
Normalized Diluted EPS	0.2	0.2	0.38	0.45	0.48
Dividend Per Share	0.25	0.16	0.3	0.34	0.38
Payout Ratio	96.56	68.12	55.58	67.27	67.85
American Depositary Receipts Ratio (ADR)	6	6	6	6	6
Supplemental Items
Effective Tax Rate - (Ratio)	21.96	27.14	27.86	28.19	26.13
Total Current Taxes	-500M	243M	1.7B	1.58B	2.68B
Total Deferred Taxes	1.64B	1.39B	1.3B	1.82B	624M
Normalized Net Income	3.85B	3.87B	6.9B	8.19B	8.37B
Non-Cash Pension Expense	10M	18M	39M	34M	25M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	220M	146M	158M	148M	144M
Total Stock-Based Compensation	220M	146M	158M	148M	144M

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Assets
Cash And Equivalents	14.76B	113B	89.27B	40.53B	37.87B
Investment Securities, Total	312B	254B	279B	299B	329B
Trading Asset Securities, Total	50.62B	43.75B	39.47B	44.34B	47.63B
Total investments	362B	298B	318B	343B	376B
Gross Loans	520B	505B	489B	482B	485B
Allowance For Loan Losses	-10.65B	-7.76B	-7.39B	-7.16B	-5.87B
Net Loans	509B	497B	482B	475B	479B
Gross Property Plant And Equipment	18.74B	18.79B	17.97B	17.68B	17.23B
Accumulated Depreciation	-8.75B	-9.05B	-9.03B	-9.42B	-9.42B
Net Property Plant And Equipment	9.99B	9.74B	8.94B	8.25B	7.8B
Goodwill	3.57B	3.63B	3.67B	3.7B	3.7B
Other Intangibles, Total	5.77B	6.2B	5.85B	6.16B	6.3B
Investment in Real Estate	798M	770M	887M	770M	841M
Loans Held For Sale	-	-	-	-	-
Other Receivables	12.57B	4.19B	2.6B	2.29B	1.68B
Restricted Cash	127B	5.43B	7.7B	7.74B	7.75B
Other Current Assets, Total	1.42B	638M	264M	667M	1.06B
Deferred Tax Assets Long-Term (Collected)	15.25B	14.75B	12.6B	11.27B	10.48B
Other Real Estate Owned And Foreclosed	-	-	-	-	-
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	6.12B	22.47B	31.47B	33.9B	27.48B
Total Assets	1,069B	976B	964B	933B	960B
Liabilities
Accounts Payable, Total	2.27B	1.88B	1.69B	1.75B	1.83B
Accrued Expenses, Total	5.64B	4.09B	4.4B	2.64B	2.23B
Interest Bearing Deposits	117B	111B	80.94B	86.12B	87.97B
Non-Interest Bearing Deposits	427B	416B	368B	365B	373B
Total Deposits	544B	527B	449B	451B	461B
Short-Term Borrowings	50.56B	48.03B	68.86B	75.71B	102B
Long-Term Debt	241B	208B	199B	155B	147B
Long-Term Leases	1.39B	1.32B	1.22B	1.1B	1.05B
Current Income Taxes Payable	363M	297M	458M	383M	865M
Other Current Liabilities - (Bank / Utility Template)	25.75B	10.04B	10.98B	8.66B	6.4B
Unearned Revenue Non Current	945M	932M	-	-	-
Pension & Other Post Retirement Benefits	1.39B	991M	865M	804M	667M
Deferred Tax Liability Non-Current	1.92B	2.01B	1.49B	1.71B	2.02B
Other Non Current Liabilities	131B	109B	161B	169B	170B
Total Liabilities	1,005B	914B	899B	868B	895B
Common Stock, Total	10.08B	10.37B	10.37B	10.37B	10.37B
Additional Paid In Capital	27.29B	28.05B	28B	27.6B	24.28B
Retained Earnings	19.4B	17.88B	18.81B	19.71B	23.16B
Treasury Stock	-136M	-124M	-140M	-179M	-240M
Comprehensive Income and Other	7.14B	5.48B	6.92B	7.68B	7.66B
Total Common Equity	63.78B	61.66B	63.96B	65.18B	65.23B
Minority Interest	291M	166M	164M	145M	152M
Total Equity	64.07B	61.82B	64.13B	65.32B	65.38B
Total Liabilities And Equity	1,069B	976B	964B	933B	960B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	19.4B	18.96B	18.26B	17.78B	17.39B
ECS Total Common Shares Outstanding	19.4B	18.96B	18.26B	17.78B	17.39B
Book Value / Share	3.29	3.25	3.5	3.67	3.75
Tangible Book Value	54.43B	51.82B	54.44B	55.32B	55.22B
Tangible Book Value Per Share	2.81	2.73	2.98	3.11	3.18
Total Debt	293B	258B	269B	232B	250B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.45B	978M	811M	679M	556M
Net Debt	195B	73.74B	111B	111B	119B
Equity Method Investments, Total	1.65B	2.01B	2.5B	3.04B	2.74B
Full Time Employees	97.7K	95.57K	94.37K	90.92K	88.07K
Number Of Offices	4.72K	4.56K	4.26K	3.92K	3.57K

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Net Income	4.18B	4.35B	7.72B	8.67B	9.32B
Depreciation, Depletion & Amortization	687M	654M	636M	667M	569M
Amortization of Goodwill and Intangible Assets - (CF)	264M	858M	801M	58M	54M
Total Depreciation, Depletion & Amortization	951M	1.51B	1.44B	725M	623M
Amortization of Deferred Charges, Total	628M	-	-	1.02B	1.1B
(Gain) Loss on Sale of Investments - (CF)	-1.76B	533M	-1.74B	1.15B	-3.53B
Total Asset Writedown	44M	28M	38M	44M	58M
Restructuring Activities	-	160M	214M	-	46M
Provision for Credit Losses	3.62B	3.15B	1.78B	1.57B	2.34B
Change in Trading Asset Securities	-4.17B	16.62B	-12.2B	-7.83B	-17.47B
Change in Other Net Operating Assets (Collected)	2.12B	74.48B	-17.49B	-51.18B	7.42B
Other Operating Activities	3.18B	1.44B	2.9B	5.66B	8.33B
Cash from Operations	8.8B	102B	-17.34B	-40.19B	8.24B
Capital Expenditure	-775M	-576M	-334M	-286M	-276M
Sale of Property, Plant, and Equipment	96M	78M	633M	79M	93M
Cash Acquisitions	-446M	1.07B	-	153M	-
Divestitures	-	-	-	-	150M
Purchase / Sale of Intangible Assets	-1.1B	-1.27B	-1.25B	-1.38B	-1.37B
Investment in Marketable and Equity Securities, Total	-50M	78M	288M	133M	123M
Other Investing Activities, Total	48M	79M	73M	53M	58M
Cash from Investing	-2.23B	-538M	-588M	-1.25B	-1.23B
Issuance of Common Stock	-	616M	417M	355M	-
Repurchase of Common Stock	-1.54B	-1.12B	-1.71B	-1.74B	-3.46B
Common Dividends Paid	-4.04B	-2.97B	-4.29B	-5.83B	-6.32B
Common & Preferred Stock Dividends Paid	-4.04B	-2.97B	-4.29B	-5.83B	-6.32B
Net Increase (Decrease) in Deposit Accounts - (CF)	-	-	-	-	-
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-14M	-50M	-7M	23M	-
Cash from Financing	-5.59B	-3.52B	-5.59B	-7.19B	-9.79B
Foreign Exchange Rate Adjustments	37M	-52M	-136M	-115M	114M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	1.02B	98.17B	-23.65B	-48.74B	-2.66B

Fiscal Period: December	2021 (EUR)	2022 (EUR)	2023 (EUR)	2024 (EUR)	2025 (EUR)
Profitability
Return on Assets	0.39	0.43	0.8	0.91	0.99
Return On Equity %	6.2	6.95	12.36	13.38	14.29
Return on Common Equity	6.46	6.94	12.35	13.42	14.3
Shareholders Value Added	-3.09B	-2.21B	1.21B	1.5B	1.86B
Margin Analysis
SG&A Margin	67.03	66.1	51.92	42.02	40.46
Net Interest Income / Total Revenues %	45.01	53.65	75.99	74.44	72.69
EBT Excl. Non-Recurring Items Margin %	32.78	33.7	47.85	51.58	53.03
Income From Continuing Operations Margin %	22.32	23.7	33.48	34.12	36.89
Net Income Margin %	23.1	23.57	33.35	34.15	36.82
Net Avail. For Common Margin %	23.1	23.57	33.35	34.15	36.82
Normalized Net Income Margin	21.27	20.94	29.78	32.27	33.07
Asset quality
Nonperforming Loans / Total Loans %	2.93	2.11	2.02	2.02	1.56
Nonperforming Loans / Total Assets %	1.43	1.09	1.03	1.04	0.79
Nonperforming Assets / Total Assets %	1.43	1.09	1.03	1.04	0.79
NPAs / Loans and OREO	2.93	2.11	2.02	2.02	1.56
NPAs / Equity	23.8	17.21	15.43	14.9	11.57
Allowance for Credit Losses / Net Charge-offs %	732.9	994.11	1.44K	918.49	651.17
Allowance for Credit Losses / Nonperforming Loans %	69.83	72.96	74.7	73.51	77.55
Allowance for Credit Losses / Total Loans %	2.05	1.54	1.51	1.48	1.21
Provision for Loan Losses / Net Charge-offs %	193.6	330.22	264.4	145.19	196.34
Capital And Funding
Total Average Common Equity / Total Average Assets %	6.26	6.13	6.45	6.81	6.89
Total Average Equity / Total Average Assets %	6.29	6.16	6.47	6.82	6.9
Total Equity + Allowance for Loan Losses / Total Loans %	14.31	13.75	14.58	15.01	14.67
Gross Loans / Total Deposits %	95.68	95.83	108.92	106.81	105.16
Net Loans / Total Deposits %	93.72	94.36	107.28	105.22	103.89
Tier 1 Capital Ratio %	16.4	16.2	16.3	15.8	15.6
Total Capital Ratio %	19.1	19.1	19.2	19	18.7
Core Tier 1 Capital Ratio	14.5	13.8	13.7	13.3	13.2
Tier 2 Capital Ratio	2.74	2.84	2.91	3.22	3.07
Coverage Ratio	69.83	72.96	74.7	73.51	77.55
Interbank Ratio	119.18	67.67	47.32	71.08	73.22
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	3.09	2.69	1.69	1.73	2.21
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	4.3	21.54	40.99	7.35	-2.57
Non Interest Income, 1 Yr. Growth %	17.96	-12.81	-14.6	10.07	14
Provision For Loan Losses, 1 Yr. Growth %	-35.11	-8.32	-47.31	-16.78	56.41
Total Revenues, 1 Yr. Growth %	26.57	1.95	28.62	9.58	-0.23
Earnings From Cont. Operations, 1 Yr. Growth %	88.13	8.26	76.1	11.7	7.88
Net Income, 1 Yr. Growth %	27.71	4.04	76.39	12.2	7.56
Normalized Net Income, 1 Yr. Growth %	135.56	1.11	75.99	18.15	3.24
Diluted EPS Before Extra, 1 Yr. Growth %	84	4.37	85.26	14.29	10.42
Dividend Per Share, 1 Yr. Growth %	601.96	-34.6	80.6	15.2	10.26
Gross Loans, 1 Yr. Growth %	1.71	-2.95	-3.03	-1.58	0.55
Allowance For Loan Losses, 1 Yr. Growth %	-	-27.09	-4.79	-5.72	-18
Net Loans, 1 Yr. Growth %	-0.37	-2.45	-3.01	-1.52	0.83
Non Performing Loans, 1 Yr. Growth %	-27.03	-30.21	-7.01	-2.06	-22.27
Non Performing Assets, 1 Yr. Growth %	-27.03	-30.21	-7.01	-2.06	-22.27
Total Assets, 1 Yr. Growth %	6.62	-8.73	-1.13	-3.14	2.85
Total Deposits, 1 Yr Growth %	8.22	-3.11	-11.68	0.43	2.13
Tangible Book Value, 1 Yr. Growth %	-5.62	-4.79	4.96	1.61	-0.17
Common Equity, 1 Yr. Growth %	-3.18	-3.32	4.68	1.9	0.08
Total Equity, 1 Yr. Growth %	-3.4	-3.5	4.66	1.86	0.09
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	7.61	12.59	46.9	23.03	2.27
Non Interest Income, 2 Yr. CAGR %	7.99	1.42	-26.4	-3.05	12.02
Provision For Loan Losses, 2 Yr. CAGR %	13.88	-22.87	-30.49	-33.78	14.09
Total Revenues, 2 Yr. CAGR %	6.99	13.6	13.06	18.72	4.56
Earnings From Cont. Operations, 2 Yr. CAGR %	-0.79	42.72	38.47	40.25	9.77
Net Income, 2 Yr. CAGR %	0.04	15.27	35.85	40.68	9.85
Normalized Net Income, 2 Yr. CAGR %	2.84	53.75	34.29	44.55	9.91
Diluted EPS Before Extra, 2 Yr. CAGR %	-4.27	38.58	39.45	45.51	12.33
Dividend Per Share, 2 Yr. CAGR %	-	114.27	8.68	44.24	12.71
Gross Loans, 2 Yr. CAGR %	12.23	-0.65	-2.99	-2.29	-0.52
Allowance For Loan Losses, 2 Yr. CAGR %	-	-	-16.68	-4	-12.07
Net Loans, 2 Yr. CAGR %	11.08	-1.41	-2.72	-2.27	-0.35
Non Performing Loans, 2 Yr. CAGR %	-30.2	-28.64	-19.44	-4.37	-12.75
Non Performing Assets, 2 Yr. CAGR %	-	-28.64	-19.44	-4.37	-12.75
Total Assets, 2 Yr. CAGR %	14.45	-1.35	-5.06	-2.14	-0.19
Total Deposits, 2 Yr CAGR %	15.7	2.4	-9.08	-5.83	1.28
Tangible Book Value, 2 Yr. CAGR %	7.9	-5.21	0.01	3.27	0.72
Common Equity, 2 Yr. CAGR %	6.75	-3.25	0.15	3.28	0.98
Total Equity, 2 Yr. CAGR %	6.75	-3.45	0.05	3.25	0.97
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	3.12	12.07	31.05	32.32	13.82
Non Interest Income, 3 Yr. CAGR %	6.72	0.56	-13.87	-15.84	2.33
Provision For Loan Losses, 3 Yr. CAGR %	3.91	5.94	-32.07	-26.19	-11.81
Total Revenues, 3 Yr. CAGR %	5.47	5.28	17.39	11.89	12.03
Earnings From Cont. Operations, 3 Yr. CAGR %	0.16	2.14	53.36	28.9	28.5
Net Income, 3 Yr. CAGR %	1.1	1.35	33.08	27.46	28.64
Normalized Net Income, 3 Yr. CAGR %	3.94	2.01	61.55	28.89	28.79
Diluted EPS Before Extra, 3 Yr. CAGR %	-3.07	-1.47	52.95	30.5	32.72
Dividend Per Share, 3 Yr. CAGR %	8.35	-	102.4	10.81	31.89
Gross Loans, 3 Yr. CAGR %	9.67	6.93	-1.45	-2.51	-1.35
Allowance For Loan Losses, 3 Yr. CAGR %	-	-	-	-12.41	-8.92
Net Loans, 3 Yr. CAGR %	8.92	6.37	-1.95	-2.32	-1.24
Non Performing Loans, 3 Yr. CAGR %	-25.23	-30.2	-22.06	-13.9	-10.75
Non Performing Assets, 3 Yr. CAGR %	-	-	-22.06	-13.9	-10.75
Total Assets, 3 Yr. CAGR %	10.71	6.13	-1.32	-4.42	-0.51
Total Deposits, 3 Yr CAGR %	13.4	9.05	-3.65	-6.02	-3.25
Tangible Book Value, 3 Yr. CAGR %	6.64	3.49	-1.91	0.54	2.11
Common Equity, 3 Yr. CAGR %	5.69	3.28	-0.98	0.73	2.2
Total Equity, 3 Yr. CAGR %	5.64	3.22	-1.12	0.65	2.19
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	-2.12	7.76	18.8	21.82	18.68
Non Interest Income, 5 Yr. CAGR %	11.99	3.26	-8.02	-7.01	-4.32
Provision For Loan Losses, 5 Yr. CAGR %	-1.45	-0.56	-11.53	-12.21	-16.41
Total Revenues, 5 Yr. CAGR %	6.37	6.23	8.44	9.9	12.08
Earnings From Cont. Operations, 5 Yr. CAGR %	12.81	-9.86	14.01	16.08	34.16
Net Income, 5 Yr. CAGR %	6.11	-9.86	13.78	15.69	23.25
Normalized Net Income, 5 Yr. CAGR %	13.49	-9.37	14.98	17.58	38.62
Diluted EPS Before Extra, 5 Yr. CAGR %	11.27	-12.37	12.11	15.29	35.19
Dividend Per Share, 5 Yr. CAGR %	7.08	-4.19	8.48	-	60.14
Gross Loans, 5 Yr. CAGR %	6.22	4.63	4.42	3.14	-1.07
Allowance For Loan Losses, 5 Yr. CAGR %	-18.82	-	-	-	-
Net Loans, 5 Yr. CAGR %	7.53	4.31	4.1	2.83	-1.31
Non Performing Loans, 5 Yr. CAGR %	-23.48	-27.21	-22.96	-20.83	-18.39
Non Performing Assets, 5 Yr. CAGR %	-	-	-	-	-18.39
Total Assets, 5 Yr. CAGR %	8.07	4.13	4.11	2.72	-0.87
Total Deposits, 5 Yr CAGR %	10.65	7.01	3.81	2.13	-1.71
Tangible Book Value, 5 Yr. CAGR %	5.57	1.35	3.94	3.42	-0.87
Common Equity, 5 Yr. CAGR %	5.45	1.87	3.44	3.09	-0.2
Total Equity, 5 Yr. CAGR %	5.37	1.78	3.36	3.05	-0.29