The SBU’s operating profit for the period increased compared to 2021, mainly due to the net interest income accrued on the use of retail and government account deposits. The Total Capital Ratio at 31 December 2022 stood at 23.1%,
confirming BancoPosta’s solidity.

2022 of the sector


External revenue4,9394,783+156+3.3%
Revenue from other sectors820759+61+8.1%
Total revenue5,7595,542+217+3.9%
Costs vs other sectors4,7574,634+123+2.7%
Total costs4,8724,796+76+1.6%
EBIT Margin %15.4%15.4%
NET PROFIT62255666-11.9%
Opèrating KPIs20222021CHANGES
Total financial assets (€bn)562.0586.1(24.1)-4.1%
Net inflows (€m)(488)15,137(15,625)-103.2%
Latent capital gains/(losses) (€m)(7,208)4,653(9,304)n/s
Current accounts (average deposits for the period in €bn)86.579.1+7.5+9.4%
Inflows total return¹2.24%2.3%
Postal savings (average deposits in €bn)315.5315.6(2.6)-0.8%
Loans (disbursed in €m)3,2962,932(24.6)-0.7%

n/s: not significant
¹ Excluding returns from pro-active portfolio management

(€ m)

ROAD TO 2024

“2024 Sustain & Innovate Plus” Strategy

Most trusted financial institution in Italy, benefiting from an omni-channel approach

  • Promoting diversification of asset allocation
  • Expansion of omni-channel for the Customer
  • Integration of non-life coverage into the investment offering

During the period, following changes in the macroeconomic environment, Cassa Depositi e Prestiti modified its range of Interest-bearing Postal Certificates, increasing yields and resuming the placement of different types of certificates: the 3×2 certificate, the 3-year Plus certificate, the Rinnova certificate (dedicated to customers who have redeemed expired Interest-bearing Postal Certificates) and the Soluzione Eredità certificate (dedicated to beneficiaries of an inheritance procedure concluded in Poste Italiane) and suspending the issue of the 5×5 certificate and the Obiettivo 65 certificate.
In July and August, the 3 anni Premium Certificate was placed for customers, contributing fresh liquidity.
In addition, the marketing of the Risparmio Sostenibile Certificate was launched, which offers the possibility of obtaining a premium at maturity linked to the performance of an ESG-linked ⁴⁴ equity index.

Current accountsThe distance sale⁴⁵ of the “Conto BancoPosta Affari” and “BPIOL BancoPostaImpreseOnline” has begun, which will be enhanced with the addition of other ancillary products (loans) to the current account.
The introduction of distance selling is also planned for the “Conto BancoPosta Business Link“.

Asset management January 2022 saw the launch of distribution of the Fund “Focus Environment March 2028”,
a balanced bond product targeting the potential growth of economic sectors related to environmental protection.
The distribution of the fund “Focus Nuovi Consumi 2028” also kicked off, which provides equity exposure linked to the emerging theme of new consumption (such as
As of May 2022, for the three Funds “Azionario Flessibile”, “Orizzonte Reddito” and “Azionario Internazionale”, the investment policy was integrated to also take into account environmental, social and governance sustainability factors.
The Fund “BancoPosta Obbligazionario Italia 6 anni” was launched, which aims to achieve – over a time horizon of approximately 6 years (maturity 31 December 2028) – a portfolio return in line with that expressed on average by corporate and government bond financial instruments of similar duration, through an investment in euro-denominated securities mainly of Italian issuers.
The Fund “BancoPosta Investo Protetto 2028” has been launched. This is a flexible fund with a duration of around 6 years that combines two components, one bond and one
equity, and aims to protect the capital invested while taking advantage of growth opportunities offered by the financial markets.

The placement of “Poste Gestione Patrimoniale“, a portfolio management arrangement in collaboration with Moneyfarm, has been launched. It features 4 diversified ETF investment lines, calibrated according to customers’ risk propensity and investment objectives, and characterised by an investment policy geared towards ESG factors.
Assets under
In June 2022, Poste Italiane participated in the placement of the 17th issue of the Buono del Tesoro Poliennale Italia (BTP, Multi-year Treasury Bond Italy), a security linked to Italian inflation trends with the new features of the double loyalty bonus (paid on two occasions, during and at the end of the bond life) and with a duration of 8 years; in November 2022, the Company participated in the placement of the 18th issue of the BTP Italia, also indexed to Italian inflation and with duration of 6 years.
Distribution of thirdparty productsTogether with the Partners for whom the financing products are distributed, the initiatives continued in 2022 as envisaged by the regulations and those adopted on a voluntary basis during 2020 in relation to the health emergency, in support of businesses in difficulty, as well as in relation to access to credit, to protect households and small and medium-sized businesses. In addition, in support of women who are victims of gender-based violence, an initiative ⁴⁶ has been launched, in cooperation with the financing banks, allowing the suspension of mortgage instalment payments.
Creating value
for the country
During the year, the “Prestito BancoPosta Consolidamento” was launched, which allows customers, by extinguishing outstanding loans with one or more institutions, to merge them into a single monthly commitment (a single instalment).
Creating value
for the country
The “Prestito Green” offer has been renewed, which is useful for financing home renovations (e.g. photovoltaic system) or the purchase of a hybrid or electric car.
Creating value
for the country
With reference to the “Quinto BancoPosta⁴ product, new features have been integrated known as “Anticipo⁸” and “Consolido” which allow customers respectively to request an advance on the amount financed and to pay off the outstanding instalments of other loans while keeping a single instalment.
Creating value
for the country
April 2022 saw the launch, with regard to loans for business customers, in cooperation with Credimi S.p.A., of the “Prestito BancoPosta Business Link Online”, as well as a new range of fully digital loans dedicated to sole proprietorships and companies.

⁴⁴ STOXX® Europe 600 ESG-X index which includes some of the companies belonging to the STOXX® Europe 600 basket, one of the main European equity benchmarks representing the 600 largest capitalised European companies. In particular – for the purpose of forming the STOXX® Europe 600 ESG-X Index – companies that do not comply with the Sustainable Development Goals of the UN 2030 Agenda and are involved in the handling of controversial weapons, tobacco production or companies whose revenue derives from the exploration or mining of thermal coal or that generate energy through the use of thermal coal are excluded from the STOXX® Europe 600 basket of companies.
⁵Distance selling involves the management, promotion and placement of banking and financial products and services, including the Business and BPIOL account, to POE and Business customers by means of remote communication techniques, electronic (mail/certified e-mail), PEC to PEC document exchange and digitally signed contracts involving customer, seller and back office. The Off-Premises Offer is aimed at the same targets but involves sales through the presence of the salesperson at the customer’s premises and the use of automated tools for signing contracts.
⁶ Poste Italiane has long been active in the economic and social inclusion of women who are victims of violence, and this initiative is aimed at women on certified protection schemes who are in economic difficulty. In agreement with the partner banks, in order to reach potentially interested people who are not easily accessible, the company advertised this possibility through internal and external channels (in addition to the local area offices, associations dealing with gender-based violence were also involved).
⁷ This is the loan for civil servants and pensioners, which can be used to pay off other loans with a repayment of up to one
fifth of salary or pension.
The “Advance” functionality allows you to request an advance of part of the financed amount. This amount can be disbursed after the
positive approval of the case and before the approval of the Transferred Third Party Administration (one’s employer or social security
institution), thus eliminating the waiting time for this document, which is only necessary for the disbursement of the balance to the