In 2014, the Intesa Sanpaolo Group recorded overall contributions to the community, measured according to the model of the London Benchmarking Group (LBG), of 60.2 million euro (up 3.6% over the prior year), representing 1.75% of the income before tax from continuing operations1.
The majority of the contribution is paid in cash and the 2014 amount was 55.1 million euro (91.5%), while 2.5% consists of time contributions and 6% of management costs (personnel, administrative and communication expenses).
|Overall contributions to the Community by type||[thousand euro]|
Cash contributions are classified by reason and broken down as follows:
- 46% consists of commercial initiatives (mainly sponsorships) with community benefit, contributing to social causes while simultaneously promoting the Intesa Sanpaolo brand and business
- approximately 43% consists of community investments - contributions characterised by long-term plans and/or strategic partnerships and/or of significant amounts - up 7 percentage points compared to 2013, as concrete evidence of the increasingly strategic activity of the Group, oriented toward long-term collaborations that ensure a real benefit and value for the local area.
- the remaining 11% consists of charitable gifts, of an occasional nature and for small amounts, including match giving initiatives (donations by the Bank during fund collection campaigns, combined with the donations of employees or customers).
Cash contributions to the community
With regard to the scope of intervention, 50% of total cash contributions in 2014 were designated to Arts and Culture (up from 46% in 2013), evidence of the priority given to this area in the Group's strategy. The other two predominant areas are Economic Development (13.5% of total cash contributions) and Social Welfare (10%).
Time contributions consist of volunteer initiatives by employees carried out during working hours or paid by the company if carried out outside of working hours, promoted by Banks of the Group. Of particular relevance is the company volunteer programme Intesa from the Heart, launched in 2013 by Banca Intesa Beograd, which combines and coordinates various volunteer projects of the bank. Three projects were brought forward in 2014: the first in favour of disabled children living in orphanages, the second for the elderly in rest homes and, lastly, a project to help individuals impacted by the floods in Belgrade.
1. Income before tax from continuing operations, totalling 3,435 million euro, presented in the reclassified income statement of the Intesa Sanpaolo Group.