THE GUIDELINES OF THE 2014-2017 BUSINESS PLAN

The commitments undertaken by Intesa Sanpaolo through the 2014-2017 Business Plan are aimed at a solid and sustainable creation and distribution of value. These are the results of our activities as compared with the goals we set ourselves for 2017:

Commitments made2014 results2017 objectivesNotes
THE BANK AS GROWTH DRIVER   
Creating value      
Net income in 2017 (Bn) 1.25* 4.5 in 2017 The results were extremely positive in 2014
Dividends (Bn) 1.2 10** Better than Plan forecasts
Real-economy Bank      
MLT credit for the real economy (Bn) 34 170** In line with Plan forecasts
Revenues from proprietary trading (% of total) 0.04% <1% Revenues from proprietary trading were practically zero at the end of 2014. The Bank is focused on a greater generation of fee and commission income, which is more stable in time and reflects an intense relationship with customers
HOW WE DO BUSINESS   
Strengthening and simplification of the Banca dei Territori model Launch of the new Banca dei Territori service model based on the three specialized “commercial areas”: Retail, Personal and Businesses   In line with Plan forecasts
Corporate simplification Creation of the SME Finance Hub and reduction of the number of banks belonging to the Banca dei Territori Division to 14 Creation of the SME Finance Hub and reduction of the number of banks belonging to the Banca dei Territori Division to 6 The Hub was created following the merger by incorporation of the Group’s leasing, factoring and agribusiness companies in Mediocredito Italiano: target achieved (from seven product companies to one) Reduction of the number of banks belonging to the Banca dei Territori Division in line with Plan forecasts
"Local bank abroad" for Italian businesses      
Around 8.4 million customers in 12 countries in Central and Eastern Europe and in the Middle East and North Africa

International Network specialised in providing support to corporate customers in 29 countries
  The opening of a branch in Turkey was finalised in 2014. The opening of a subsidiary in Brazil is being finalised
Simple and innovative bank and development of an integrated multi-channel platform
Customers with multi-channel contract (thousands) 4,923 7,879 New multichannel processes already successfully tested: increase of around 500,000 multichannel customers in 2014, resulting in a total of around 4.9 million customers (leading multichannel bank in Italy)
Creation of a structure dedicated to the development of innovation activities Creation of the Chief Innovation Officer Area, directly reporting to the CEO   In line with Plan forecasts
OUR PEOPLE   
Technical and management training for professional skill development: 5 million cumulative training days 1,169,569 (man/days)  5,000,000 days  In line with Plan forecasts
Inter-departmental and international career paths Planning To guarantee virtuous processes for the “contamination” and the integration of skills present in the company, and to foster the acquisition and implementation of managerial skills in a process of growth also towards greater levels of complexity A structured job rotation programme in the control departments will be launched in 2015.This programme involves specific high-level training courses as well as mentoring and tutoring activities in other business units
Leadership development: growth paths for employees to be assigned to coordination duties OnAir: 2,466 assessments, 574 development plans launched

Direct Job Offering: 1,760 contacts for 170 positions

Master Class: 40 employees in the Risk Management Area

Feedback 180: 37 managers
Enhancement of talent potential and adoption of systems that reward professionalism and leadership Various projects already launched to strengthen and diversify people’s skills with proactive engagement methods as part of development paths
Internal policies and communication to foster a Group culture based on service excellence and support for households and businesses Intesa Sanpaolo Employees’ Association: over 100,000 members, over 600 initiatives Group Health Fund: estimated 135 M in reimbursed services Flexibility: Flexible Hours trial scheduled To foster, with increasingly engaging methods, the adoption of virtuous and ethically responsible conduct aimed at improving customer and employee satisfaction "Insieme per la Crescita" effectively supported the implementation of the new service model and will be extended to all local areas in 2015
Internal policies for the enhancement of corporate welfare and employment support Intesa Sanpaolo Employees’ Association: over 100,000 members, over 600 initiatives

Group Health Fund: estimated 135 M in reimbursed services

Flexibility: Flexible Hours trial scheduled
An integrated and widespread corporate welfare system that interprets and implements new ways of regarding wellbeing and people in general The integrated corporate welfare system was launched in full
Around 4,500 people involved in professional reassignment and requalification initiatives to support the development of the new business initiatives under the Plan 2,600 4,500** Around 60% of the excess resources were involved in priority initiatives during the first year of the Plan
THE BANK IN THE COMMUNITY      
Around 10 billion euro of (direct and indirect) tax will be paid in the four-year period 2.7 Bn 10 Bn** Higher direct and indirect taxes than Plan forecasts
Around 1.2 billion euro of medium/long-term loans to support social entrepreneurship initiatives 0.20 Bn 1.2 Bn** The new credit issued to support social enterprises in 2014 was largely in line with the Plan forecasts

* Net result including € 443 M of non-recurring items for the increase in the taxation on the benefit deriving from the stake in the Bank of Italy

** Cumulative value 2014-2017

The document “Stakeholder Engagement and Improvement Objectives - 2014”, which presents the stakeholders’ requests resulting from the 2014 engagement processes and the objectives pursued by the internal departments, is available in the Sustainability @ section of the Intesa Sanpaolo website.