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3 Aug 2022

Intesa Sanpaolo

Intesa Sanpaolo statement

Dear team of B&HRRC

I’m pleased to respond to your kind request.

Intesa Sanpaolo has subsidiaries both in Russia (Banca Intesa Russia) and Ukraina (Pravex Bank) and with the attached March 16, 2022 press release it reported its exposure to Russia and Ukraine as at the end of 2021, before the invasion of Ukraine by Russia.

At the same time, as reported in the attached March 25, 2022 press release, Intesa Sanpaolo has signed collaboration agreements with UNHCR – UN Refugee Agency and Caritas Italiana for aid to the Ukrainian population, on site and in Italy. The two institutions are therefore the first recipients of the 10 million euro donation recently announced by Managing Director and CEO Carlo Messina.

As stated by a Group’s spokesperson on 8 April 2022, since the war in Ukraine began, Intesa Sanpaolo has activated a crisis unit dedicated to overseeing the Group’s activities in Russia. Applying principles of utmost prudence, all business activities with Russian and Belarusian counterparties - including those of the Group's Russian subsidiary, Banca Intesa Russia - have been subject to enhanced monitoring and analysis. Intesa Sanpaolo has not carried out any new financing with Russian or Belarusian counterparties since the beginning of the war and has stopped investments in Russian and Belarusian financial instruments, independently from the applicable sanction regimes.

The Intesa Sanpaolo Group’s local presence in Russia is under strategic review, as previously announced. These actions are in addition to the ordinary processes aimed at guaranteeing strict compliance by the Intesa Sanpaolo Group with all applicable sanction regimes put in place by the competent Authorities.

In the attached extract from the presentation of 1H2022 results (pp. 13, 14, 27) you find updated information on:

  • type and amounts of exposure both to Russia and Ukraine, whose trend is consistent with the commitment declared in April;
  • the humanitarian projects to support the Ukrainian population and Pravex Bank colleagues.