Intesa Sanpaolo has emerged as Europe's highest-capital-return bank story, with buybacks plus dividends returning nearly 100% of net income to shareholders. Italian net interest income has proven stickier than peers expected as the bank repriced its back book. Wealth management (Fideuram) and insurance (Assicurazioni Vita) provide fee income that buffers rate cycle risk. The cleanest large-cap Italian bank on credit quality and capital.
Thesis reviewed May 29, 2026
Intesa Sanpaolo S.p.A. is headquartered in Italy, which is currently showing moderate signals.
🇮🇹Italy52NEUTRALView Italy risk detail →🏦Financials100NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| BAC | Bank of America Corporation | 90 | +8% | ↓86% | NEUTRAL |
| SAN | Banco Santander SA | 90 | +16% | ↓86% | ENTRY |
| AIG | American International Group, Inc. | 90 | +3% | ↓86% | NEUTRAL |
| IBN | ICICI Bank Limited | 90 | +11% | ↓86% | ENTRY |
| MCO | Moody's Corporation | 90 | +18% | ↓86% | ENTRY |
| AXP | American Express Company | 90 | +6% | ↓86% | ENTRY |
| USB | U.S. Bancorp | 90 | +10% | ↓86% | ENTRY |
Investors who hold ISPPY may also have indirect exposure through these country funds.
Intesa Sanpaolo Q4 NII beats consensus; back-book repricing 70% complete
€6.5B total shareholder return commitment for 2026 reaffirmed
Fideuram AUM crosses €300B; fee margin holds despite competitive pressure