Intesa Sanpaolo delivered high-quality earnings in the first nine months of 2022 driven by a strong acceleration of Net interest income, supported by its standing as a Zero-NPL Bank and the strong third-quarter reduction of exposure to Russia that is now approaching zero.
Following are some key highlights of Intesa Sanpaolo’s 9M22 results:
•    €4.4 billion Net income, when excluding Russia de-risking; €3.3 billion reported Net income
•    ~65% reduction of Russia exposure in Q3 (-€2.3 billion), down to just 0.3% of Group loans
•    Highest-ever 9M Operating income and Operating margin
•    Significant growth in Net interest income with strong acceleration in Q3 (+14.1% vs Q2)
•    Best-ever Insurance income
•    Strong decrease in Operating costs with Cost/Income ratio down to 49.4% while investing in technology
•    Among the lowest NPL stock and ratios in Europe
•    Very low underlying cost of risk, driven by Zero-NPL Bank status
In the first nine months, Intesa Sanpaolo worked along two dimensions: first, delivering high-quality results in the short term and, second, building a strong bank for the next ten years, by continuing to execute the 2022-2025 Business Plan.
More information on the 3Q22 financial results together with the outlook and main industrial initiatives of the Intesa Sanpaolo 2022-2025 Business Plan are available in the Group’s Investor Relations section. 

Intesa Sanpaolo: Consolidated results as at 30 september 2022:  https://group.intesasanpaolo.com/en/investor-relations/press-releases/2022/11/20221104-ris-3q22-uk

3Q22 results: Statement by CEO Carlo Messina: https://group.intesasanpaolo.com/en/newsroom/news/all-news/2022/3q22-results-ceo-statement