Strategic guidelines

With update to 2028 of the "One Brand - One Culture" plan, we completed the repositioning process we embarked on more than ten years ago, laying the foundations to ensure growth without prejudice to our history of excellence and reliability.

With this plan, we have set the objective of delivering positive growth in all segments in which we operate, by leveraging on our distinctive features: a responsible approach to banking, the strength of our brand, focus and distinctive positioning in highly specialized and profitable businesses, a strong capital position, and continuing investment in talent, innovation and distribution.

The Group’s future growth will involve all four of our business divisions:

• We aim to become Italian market leader in Wealth Management, by unlocking the full potential of the Private & Investment Banking model
• Our historical Corporate & Investment Banking Division will evolve into a pan-European capital-light platform, by exploiting the synergistic approach with Wealth Management
• We will consolidate our position of leadership in Consumer Finance by upgrading our service model and leveraging on our established distribution and risk management credentials
• The Insurance division will continue to generate high cashflows decorrelated from traditional banking risk, and at the same time benefiting from the more favourable capital treatment for insurance operations.

THE ONE BRAND-ONE CULTURE 2025-28 PLAN PROVIDES FURTHER ROBUST GROWTH EXPECTED IN REVENUE, PROFITABILITY AND REMUNERATION GROWTH

• Revenue above €4.4 bn (+20% over the three-year period, CAGR +6% ) 
• Net profit of €1.9 bn (+45% over the three-year period), EPS at €2.4 (CAGR +14% ) 
• Ordinary net profit of €1.7 bn (+30% over the three year period), EPS at €2.1 (CAGR +9% ) 

PROFITABILITY AND SOLIDITY

• ROTE at 20%, ordinary at 17% (+3 pp from 14%)
• CET1 of 14%, T1 of 15.5%

 SHAREHOLDER REMUNERATION

• Payout: 100% of ordinary profit, entirely in cash