In 2014 the economic value generated by the Intesa Sanpaolo Group2 was 13.9 billion euro. This amount expresses the value of the wealth produced, most of which distributed among the stakeholders with which the Group interacts in various ways on a day-to-day basis. In particular:

  • employees and other staff benefited from around 42% of the economic value generated, for a total of 5.8 billion euro. The caption includes 105 million euro (before tax) relating to personnel exit incentives, 85 million euro of which relating to manager exits in accordance with the agreement signed with the trade unions. In addition to staff pay, the total also includes payments to the network of financial advisors;
  • suppliers received approximately 19% of the economic value generated, for a total of around 2.6 billion euro in payment for goods and services;
  • the State, Organisations and Institutions recorded a total flow of funds of approximately 2.5 billion euro, equal to around 18% of the economic value generated and for the most part referring to current income taxes. In addition to the specific allocation by the Parent Company and certain Group companies of profits to Charity Funds, donations and gifts (a total of 13 million euro), there were numerous social and cultural initiatives, in addition to initiatives for charities and social and cultural gifts by the Parent Company established in prior years;
  • approximately 9% of the economic value generated was allocated to Shareholders and minority interests, largely in terms of the proposed dividend, for a total of 1.2 billion euro;
  • the remaining 1.7 billion euro, approximately, was withheld by the corporate system. This refers to prepaid and deferred taxes, amortisation, and provisions for risks and charges. Self-financing is considered an investment that other stakeholder categories make each year to maintain efficiency and allow development of the Bank as a whole.

ECONOMIC VALUE GENERATEDMILLION EURO[%]
ECONOMIC VALUE GENERATED 13,876 100
ECONOMIC VALUE DISTRIBUTED -12,173 87.8
  Employees and collaborators* -5,836 42.1
  Suppliers -2,619 18.9
  State, Entities and Institutions, Community -2,474 17.8
  Shareholders and Third Parties -1,244 9
ECONOMIC VALUE RETAINED 1,703 12.2

* Includes exit incentive charges of 105 million.

Economic value generated in 2014

 economic-value-generated.png

2 The economic value generated was calculated according to instructions issued by the Italian Banking Association (ABI - Associazione Bancaria Italiana) in keeping with international reference standards.  The calculation is carried out by reclassifying the captions of the consolidated Profit and Loss Account included in the accounting statements regulated by Circular no. 262 issued by the Bank of Italy.