(Finance) – “The launch of the new digital bank Isybankwith nearly 400 specialists, is expected by the summer“. He announces it Charles MessinaCEO of Intesa Sanpaolo, in commenting the results as at 31 March 2023. “The strengthening of the digital skills of the bank’s core business continues decisively – he adds – We continue to invest in the levers of growth, in particular in technological innovation”. Isybank is the new digital bank of the Italian giant.
Messina points out that, in the second year of execution, “lThe implementation of the 2022-2025 business plan is proceeding at full speed: all major industrial initiatives are well underway”.
The positive results of the first three months of the year “allow us to increase the 2023 net profit forecast to 7 billion euros” and furthermore “this year we will be able to distribute to our shareholders 5.8 billion considered: the May dividend, the second tranche of the buyback, and the November interim dividend. These are important assets, not only for our shareholders but for the country’s economy.”
The CEO of Intesa Sanpaolo also addresses the hypothesis of a increase in the tax on bank profits, in consideration of revenues from growing interest margins, in the current situation of interest rate increases by the ECB. “We will observe every decision taken by the Government with respect – he says – At the same time we hope that these additional levies, in the event that new tax rules are applied, will be used to deal with the major social emergency of the countrythat of the growth of inequalitiesadopting measures in favor of those in greater difficulty”.
With regard to the results, he speaks of a 2023 that “opened in a particularly positive way” and of a “successful business model thanks to its diversification and resilience, to the ability to significantly improve credit quality and to manage operating costs flexibly and efficiently, gradually increasing a capitalization well above the required levels”.
“The unique model developed over the years from our bank – with a traditional strength in the commercial sector and the prominent position in wealth management – allows us to benefit from the current environmentcharacterized by rising interest rates, and at the same time ensure resilience and profitability in future scenarios of falling interest rates,” he adds.