Credit quality improvement for Intesa SanPaolo bank led by CEO Carlo Messina. During the first half of 2022, the reduction in impaired loans, gross of value adjustments, amounted to approximately € 4.1 billion from the end of 2021 and approximately € 54 billion from the peak in September 2015; the stock of impaired loans has decreased since December 2021, by 26.9% gross of value adjustments and by 13% net.
The incidence of impaired loans on total loans is equal to 2.3% gross of value adjustments and 1.3% net considering the accounting data as at 30 June, respectively equal to 2.2% and 1 , 2% pro-forma taking into account the reduction for further disposals scheduled for 2022 already subject to provision in the fourth quarter of 2021. Considering the methodology adopted by the EBA, Intesa SanPaolo underlined, the incidence of impaired loans is equal to 1 , 8% gross of value adjustments and 1% net considering the accounting data as at 30 June, respectively 1.7% and 1% pro-forma taking into account the reduction for further disposals expected in 2022 already subject to provision in the fourth quarter of 2021;
High levels of coverage of impaired loans, with the level of specific coverage of impaired loans at 44.8% at the end of June 2022, with specific coverage of the component consisting of non-performing loans at 63.9%;
Robust reserve buffer on performing loans, equal to 0.6% at the end of June 2022.