2018 EU-wide Stress Test Summary: Intesa Sanpaolo S.p.A.
Core Information
Bank Name: Intesa Sanpaolo S.p.A.
LEI Code: 2W8N8UU78PMDQKZENC08
Country Code: IT (Italy)
Financial Performance Overview
Metric
Actual (31/12/2017)
Restated (31/12/2017)
Baseline Scenario (31/12/2018–2020)
Adverse Scenario (31/12/2018–2020)
Net Interest Income (mln EUR)
7,291
-
7,381 / 7,662 / 7,809
7,198 / 7,144 / 6,867
Gains/Losses on Financial Assets (mln EUR)
631
-
501 / 501 / 501
-232 / 323 / 323
Impairment or Reversal of Impairment (mln EUR)
-3,909
-
-1,899 / -1,751 / -1,588
-6,375 / -4,433 / -4,810
Profit/Loss for the Year (mln EUR)
7,367
-
3,701 / 3,997 / 4,188
-1,951 / 489 / 183
Common Equity Tier 1 (CET1) Capital (mln EUR)
38,051
37,957
37,206 / 37,232 / 37,544
32,320 / 31,867 / 31,176
CET1 Ratio (%)
13.27%
13.24%
12.93% / 12.93% / 13.04%
10.80% / 10.64% / 10.40%
Fully Loaded CET1 Ratio (%)
12.87%
11.85%
11.84% / 12.02% / 12.28%
9.76% / 9.74% / 9.66%
Tier 1 Capital (mln EUR)
43,466
43,399
42,642 / 42,463 / 42,570
37,756 / 37,097 / 36,202
Leverage Ratio Exposures (mln EUR)
676,967
676,925
676,925 / 676,925 / 676,925
676,925 / 676,925 / 676,925
Leverage Ratio (%)
6.42%
6.41%
6.30% / 6.27% / 6.29%
5.58% / 5.48% / 5.35%
Fully Loaded Leverage Ratio (%)
6.12%
5.66%
5.69% / 5.77% / 5.89%
4.98% / 4.98% / 4.95%
Credit Risk IRB Overview
Exposure Values
Category
A-IRB (Non-defaulted)
A-IRB (Defaulted)
F-IRB (Non-defaulted)
F-IRB (Defaulted)
Corporates - Of Which: Specialised Lending
174,878
34,876
1,570
99
Corporates - Of Which: SME
10,453
2,495
0
0
Retail - Secured on Real Estate Property
46,366
21,471
432
27
Retail - Secured on Real Estate Property - Of Which: SME
87,016
4,341
0
0
Retail - Secured on Real Estate Property - Of Which: non-SME
4,295
1,271
0
0
Retail - Other Retail - Of Which: SME
82,721
3,070
0
0
Retail - Other Retail - Of Which: non-SME
9,555
4,844
0
0
Equity
554
2
-
-
IRB TOTAL
307,574
44,481
1,570
99
Risk Exposure Amounts
Category
A-IRB (Non-defaulted)
A-IRB (Defaulted)
F-IRB (Non-defaulted)
F-IRB (Defaulted)
Corporates - Of Which: Specialised Lending
94,268
7,743
1,322
0
Corporates - Of Which: SME
9,569
584
0
0
Retail - Secured on Real Estate Property
27,465
4,710
408
0
Retail - Secured on Real Estate Property - Of Which: SME
13,273
27
0
0
Retail - Secured on Real Estate Property - Of Which: non-SME
15,673
31
0
0
Retail - Other Retail
2,401
4
0
0
Equity
0
0
-
-
IRB TOTAL
127,042
7,878
1,322
0
Key Financial Indicators
Performing Exposure (A-IRB): 172,571 mln EUR
Non Performing Exposure (A-IRB): 34,941 mln EUR
Stock of Provisions (A-IRB): 20,669 mln EUR
Of which: from non performing exposures: 19,286 mln EUR
Coverage Ratio - Non performing exposures (A-IRB): 55.2%
Summary of Key Findings
Baseline Scenario (31/12/2018–2020)
Net interest income increases slightly over the three years.
Profit for the year declines significantly, indicating potential challenges in maintaining profitability.
CET1 ratio remains stable in the first two years but decreases in the third year, suggesting a risk to capital adequacy.
Fully loaded CET1 ratio also declines, showing a reduced capital buffer.
Leverage ratio decreases over time, indicating improved capital efficiency.
Adverse Scenario (31/12/2018–2020)
Profit becomes negative, indicating a significant financial stress under adverse conditions.
CET1 ratio drops further, highlighting potential capital insufficiency.
Fully loaded CET1 ratio continues to decline, indicating an even greater impact on capital levels.
Leverage ratio continues to fall, suggesting a decrease in capital strength.
Additional Notes
Mandatory Conversion Instruments: No instruments with mandatory conversion into ordinary shares in the 2018–2020 period.
Eligible Instruments: 4,121 mln EUR of Additional Tier 1 and Tier 2 instruments eligible for regulatory capital conversion or write-down under adverse scenarios.
Trigger Events: No instruments trigger conversion based on CET1 ratio thresholds in the adverse scenario.
Country-Specific Information
Spain
IRB TOTAL: 238,841 mln EUR
Non-defaulted (A-IRB): 0
Defaulted (A-IRB): 0
Non-defaulted (F-IRB): 0
Defaulted (F-IRB): 0
Performing Exposure: 15,309 mln EUR
Non Performing Exposure: 395 mln EUR
Stock of Provisions: 242 mln EUR
Of which: from non performing exposures: 54.4%
Coverage Ratio - Non performing exposures: 55.7%
United States
IRB TOTAL: 7,292 mln EUR
Non-defaulted (A-IRB): 0
Defaulted (A-IRB): 0
Non-defaulted (F-IRB): 0
Defaulted (F-IRB): 0
Performing Exposure: 5,850 mln EUR
Non Performing Exposure: 2,224 mln EUR
Stock of Provisions: 1,217 mln EUR
Of which: from non performing exposures: 1,022 mln EUR
Coverage Ratio - Non performing exposures: 55.7%
United Kingdom
IRB TOTAL: 11,285 mln EUR
Non-defaulted (A-IRB): 0
Defaulted (A-IRB): 0
Non-defaulted (F-IRB): 0
Defaulted (F-IRB): 0
Performing Exposure: 8,258 mln EUR
Non Performing Exposure: 3,969 mln EUR
Stock of Provisions: 104 mln EUR
Of which: from non performing exposures: 143 mln EUR
Coverage Ratio - Non performing exposures: 55.7%
France
IRB TOTAL: 7,039 mln EUR
Non-defaulted (A-IRB): 0
Defaulted (A-IRB): 0
Non-defaulted (F-IRB): 0
Defaulted (F-IRB): 0
Performing Exposure: 5,766 mln EUR
Non Performing Exposure: 2,408 mln EUR
Stock of Provisions: 19 mln EUR
Of which: from non performing exposures: 72.5%
Coverage Ratio - Non performing exposures: 72.5%
Slovakia
IRB TOTAL: 9,422 mln EUR
Non-defaulted (A-IRB): 0
Defaulted (A-IRB): 0
Non-defaulted (F-IRB): 0
Defaulted (F-IRB): 0
Performing Exposure: 3,093 mln EUR
Non Performing Exposure: 4,802 mln EUR
Stock of Provisions: 494 mln EUR
Of which: from non performing exposures: 143 mln EUR
