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InterviewsNovember 30 2021

Sustainability top of mind for Intesa Sanpaolo

Carlo Messina, CEO of Intesa Sanpaolo, Italy’s biggest bank by assets following the merger with UBI Banca, talks to The Banker about Italy’s economic rally, the bank’s job in supporting the recovery and the role ESG will play in its new strategic plan.
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Sustainability top of mind for Intesa Sanpaolo

Q: What toll has the Covid-19 pandemic taken on Italy beyond the headline 8.9% drop in gross domestic product (GDP) in 2020?

A: Because Intesa Sanpaolo holds more than €1.2tn of Italian families’ wealth and €500bn of loans to Italian families and companies, we are in a unique position to understand the real situation – and the economic dynamics were not as negative as perceived outside the country. While GDP fell and there were some short-term cash flow issues, we saw a significant increase in deposits from both corporates and families.

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Joy Macknight is the editor of The Banker. She joined the publication in 2015 as transaction banking and technology editor. Previously, she was features editor at Profit & Loss, editorial director at Treasury Today and editor at gtnews. She also worked as a staff writer on Banking Technology and IBM Computer Today, as well as a freelancer on Computer Weekly. She has a BSc from the University of Victoria, Canada.
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