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Intesa Sanpaolo Group increases capital by five billion euros

In order to support the business plan in the forthcoming period and strengthen its market position, Intesa Sanpaolo Group will increase its capital by five billion euros and thus strengthen its position as one of the best-capitalized banking groups that operate in the Euro zone. The Bank is fully prepared to respond to all potential challenges, said Mr. Corrado Passera, Managing Director and CEO of Intesa Sanpaolo Group presenting a three-year business plan, in Milan.

In recent years, the Bank’s management has focused on the merger of two banking groups - Banca Intesa and Sanpaolo IMI, presently operating as Intesa Sanpaolo Group in 40 countries worldwide, and on overcoming the consequences of the global crisis. During the crisis, the Group did not stop investing in any moment, and in the past few years, it has invested even four billion euros.

- These two challenges are behind us and now we can focus on the strategy of sustainable growth. We have the capability to achieve a good organic growth and we are thinking of new acquisitions – Passera announced.