Fitch raises Intesa Sanpaolo’s ratings by two notches to A- with Stable Outlook

MILAN, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Fitch has upgraded Intesa Sanpaolo’s credit rating by two notches to A-.
For the first time, Fitch rated the Group one notch above Italy’s sovereign rating.

• Fitch lifted both the Long-Term Issuer Default Rating (from BBB to A-) and the Viability Rating (from bbb to a-).
  

Why it matters. A State’s sovereign rating is typically considered a ceiling for corporates in that country. For the first time, Fitch has rated Intesa Sanpaolo above Italy’s sovereign rating. The upgrade signals recognition that Intesa Sanpaolo is an exceptional strength case, standing out in both Italian and European banking.

In their words: Fitch underlines Intesa Sanpaolo’s “exceptional strength relative to its domestic peers” thanks to a diversified business model, strong profitability, and capital flexibility.

• “We also expect IntesaSP to maintain profitability above the large European banks’ average” writes Fitch.
  

Luca Bocca, CFO of Intesa Sanpaolo, commented: “This upgrade is more than a technical move. It’s very satisfying to see Fitch appreciate the quality and resilience of our diversified business model, which remains concentrated in the best part of Italy.”

Ready for anything: Intesa Sanpaolo stands out as a safe haven even under sovereign stress. Fitch sees “resilient performance through the cycle” even as interest rates decline, adding “we expect profitability to remain strong in the next two years”. Fitch also describes the Group as a “flight-to-quality” institution during volatility.

• “IntesaSP’s exceptional strength relative to its domestic peers is supported by its dominant domestic franchise, well diversified products and revenues, and flight-to-quality status. We believe these factors would mitigate pressures on the bank in the case of a severe stress on the Italian sovereign,” writes Fitch.
  

The bottom line: Fitch’s upgrade is a clear endorsement of Intesa Sanpaolo’s strategy — a validation that resilience, profitability, and diversification put the bank among Europe’s top tier while sustaining strong shareholder returns. It also reflects the strength of management’s execution and the constructive dialogue maintained with Fitch over the past year.

Contact: international.media@intesasanpaolo.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d567ce7a-62cc-4e98-99de-d6f4746043d0

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